Respect Energy, EPCG sign MoU on green projects development

Respect Energy EPCG memorandum solar wind ofshore hydrogen

Photo: South Banat Energy Hazelnut


November 22, 2023



comments icon




November 22, 2023



comments icon



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

Green for Growth Fund financial impact targets 2023

Green for Growth Fund tops its financial, impact targets in 2023

15 July 2024 - The Green for Growth Fund kept mitigating climate change and promoting sustainable economic growth last year in its 18 markets

Energy permit not needed for power plants under 1 MW in BiH

15 July 2024 - The Ministry of Energy, Mining and Industry has adopted the rulebook on issuing energy permits and it entered into force on July 6

koncar croatia siemens energy

Končar, Siemens Energy launch new joint venture

15 July 2024 - Croatia’s firm Končar and Siemens Energy have signed a joint venture agreement on the establishment of the Končar - Transformer Tanks

heatwave power exchange prices see europe serbia

What is behind electricity price spike in SEE: grid issues, and something more

13 July 2024 - Record high temperatures aren't the main cause of the record price increase on power exchanges, ranging from 50% to 170%