Three investments in solar power announced in Montenegro

Three major investments for solar boom in Montenegro

Photo: Sebastian Ganso from Pixabay


January 11, 2023






January 11, 2023





Three companies have announced hundreds of millions of euros in investments in Montenegro. They intend to build three solar power plants and a wind farm in Rožaje, Šavnik and Cetinje. The country recently reduced the VAT for solar panels and foresaw a spike in solar power output for this year.

BSD Mont plans to build a solar power plant and a wind farm in the municipality of Rožaje, on the Vuča site, in cooperation with business partners from Hungary. The Podgorica-based firm bought a part of the land owned by former company Agrobisernica for the project.

The investment in the east of Montenegro is valued at over EUR 200 million, and it is envisaged to create 50 jobs.

As Radio Rožaje reported, Deputy Prime Minister and Minister of Capital Investments Ervin Ibrahimović estimated that the endeavor would directly improve the standard of citizens of Rožaje.

The investment in Rožaje is estimated at over EUR 200 million

Sunrise Europe, headquartered in Kotor, plans to install a solar power plant in Šavnik. The facility would be located in the cadastral municipalities of Dubrovsko and Duži. At its last session, the Government of Montenegro issued the urban planning and technical requirements for the preparation of technical documentation at the request of the firm’s lawyer Miloš Komnenić.

The maximum capacity of the solar power plant in Šavnik will be 220 MW, according to analyses conducted by Sunrise Europe.

The Šavnik photovoltaic unit is seen with 220 MW in capacity

Another solar park is planned in Cetinje, in the cadastral municipality of Prediš. The company Obnovljivi izvori energije from Podgorica requested urbanistic and technical conditions for the project, the government said.

The facility is seen with 225 MW in capacity. It is planned to be built on a 440-hectare lot. The photovoltaic plant could generate 306.2 GWh per year, according to investors.

The solar power plant in Cetinje would have 225 MW

The government recently reduced the value-added tax on the sales, installation, and imports of solar panels from 21% to 7%. Recent law amendments also simplified the procedure for solar power plants up to 1 MW. They have been exempted from the obligation to obtain urban planning and technical requirements.

It is an additional impetus for the development of solar projects in Montenegro, which is set to boost solar power production by more than ten times this year, from 3.8 GWh to 41 GWh.

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