Investors from the United Arab Emirates, France, and the United States have expressed strong interest in Montenegro’s energy sector, particularly in solar and wind power, energy storage and modernizing the power grid, Energy Minister Admir Šahmanović announced.
He noted that these initiatives represent investments worth hundreds of millions of euros and stressed the urgency of acting swiftly to secure Montenegro’s position on the global investment map. According to Šahmanović, the state-owned utility EPCG must be a central and mandatory partner in all major energy projects.
Montenegro offers investors political stability, strategic locations for renewable energy development, and the potential for long-term clean energy concessions. Talks with interested international investors are already underway. The country’s favorable conditions for energy infrastructure are seen as key to attracting long-term partnerships.
Šahmanović also highlighted that Montenegro’s National Energy and Climate Plan will soon be open for public consultation. The plan outlines that the coal-fired thermal power plant Pljevlja will remain in operation until 2041, undergoing gradual modernization and emissions reduction during that period.
Communication with the Energy Community has been ongoing, and initial reactions to the proposed timeline for phasing out coal have been positive, following recent talks with the organization’s director, Artur Lorkowski.
Looking ahead, Šahmanović believes Montenegro is well-positioned to become a regional energy hub. By focusing on renewable energy and infrastructure development, the country could diversify its economy beyond tourism and strengthen its long-term energy and economic resilience.
