Renewables

Respect Energy, EPCG sign MoU on green projects development

Respect Energy EPCG memorandum solar wind ofshore hydrogen

Photo: South Banat Energy Hazelnut

Published

November 22, 2023

Country

Comments

0

Share

Published:

November 22, 2023

Country:

Comments:

0

Share

Warsaw-based Respect Energy Holding and Montenegrin state-owned power utility Elektroprivreda Crne Gore have agreed to develop renewable energy projects in Montenegro.

Respect Energy Holding and Elektroprivreda Crne Gore (EPCG) have signed a memorandum of understanding on the development and operation of renewable energy projects in Montenegro, said South Banat Energy Hazelnut, the Polish company’s partner in Serbia.

The memorandum was signed in Podgorica by Tomasz Zadroga, Vice Chairman of Respect Energy Holding, and Milutin Đukanović, Chairman of the Board of Directors of EPCG, in the presence of Andrzej Papierz, Ambassador of Poland to Montenegro.

The two companies agreed to examine the possibility of a joint venture including the development and operation of an offshore wind power plant with a capacity of approximately 2 GW, as well as the development of a battery energy storage and solar power plant in Montenegro.

Zadroga: Respect Energy intends to expand both in the local market as well as in the Balkan area

Additionally, the memorandum envisages the development of an ammonia and hydrogen production plant equipped with an 800 MW electrolyzer, the press release reads.

According to Zadroga, joining forces with EPCG – the main electricity producer and supplier in Montenegro – shows his company’s firm intention to expand both in the local market as well as in the Balkan area.

“We are delighted to work together with our Montenegrin counterparts on renewable energy projects such as an ammonia production facility, offshore wind and solar farms,” Zadroga stressed.

Đukanović: It is the beginning of a long-term and successful cooperation for mutual satisfaction

Đukanović said he highlighted many times the decade-long stagnation of Montenegro’s economy, but that now, fortunately, EPCG can develop itself and the country’s economy by establishing such partnerships and recognizing good projects.

“I am sure that the signing of this memorandum of understanding with such a respectable partner is just the beginning of a long-term and successful cooperation for mutual satisfaction,” Đukanović added.

Respect Energy EPCG memorandum zadroga djukanovic solar wind ofshore hydrogen
Tomasz Zadroga (left), and Milutin Đukanović (second left)
Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Monsson-merge-wind-farm-PV-unit-Romania-hybrid-power-plant-storage

Monsson to merge its wind farm, PV unit in Romania into hybrid power plant with storage

20 February 2024 - Monsson Group is developing a hybrid wind-solar-storage project with the largest battery energy storage system in Romania

kozloduy hyndai nuclear unit

Hyundai shortlisted for installing new nuclear units in Kozloduy

20 February 2024 - Bulgaria has called on potential contractors to express interest in the construction of a new nuclear power plant with AP1000 technology

GGF UniCredit Bank Serbia EUR 50 million renewables loan

GGF deepens cooperation with UniCredit Bank Serbia with EUR 50 million renewables loan

20 February 2024 - UniCredit Bank Serbia obtained a EUR 50 million loan from GGF for utility-scale renewables projects, strengthening its ties with the fund

EU approves EUR 6 9 billion state aid for hydrogen infrastructure

EU approves EUR 6.9 billion in state aid for hydrogen infrastructure

19 February 2024 - Strategic hydrogen project IPCEI Hy2Infra, which seven EU member states developed jointly, got a green light from the European Commission