EPCG and Masdar to Explore Joint Venture for Renewable Energy in Montenegro
EPCG, Montenegro's state-owned utility, is exploring a joint venture with Abu Dhabi's Masdar for large-scale renewable energy projects, including solar, wind, hydropower, and battery storage. This collaboration aims to bolster domestic electricity supply, enable green power exports, and support Montenegro's transition from coal, following a bilateral energy agreement signed in November. Masdar also plans to expand its global clean energy capacity to 100GW by 2030.
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EPCG, Montenegro's state-owned utility, and Abu Dhabi's Masdar are considering a joint venture for large-scale renewable projects in Montenegro, focusing on solar, wind, hydropower, and battery storage. This partnership aims to meet domestic electricity needs and facilitate green power exports, leveraging existing interconnections with Italy.
The initiative follows a bilateral energy agreement signed in November and builds on Masdar's investment in the 72MW Krnovo wind farm. The collaboration is expected to enhance energy security, support job creation, and aid Montenegro's transition from coal. Additionally, Masdar plans to increase its global clean energy capacity to 100GW by 2030.
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