Montenegrin state-owned power utility EPCG has signed memorandums of understanding (MoUs) with South Korea’s Hyundai and the US company UGT Renewables (UGTR) to develop renewable energy projects.
Milutin Djukanovic, President of EPCG’s Board of Directors, emphasized the company’s commitment to increasing investments in Montenegro’s energy sector, though he did not disclose specific details about the agreements.
Djukanovic outlined EPCG’s clear strategy, which focuses on three key elements: producing energy where it is consumed, leveraging hydropower infrastructure to connect solar power plants, and developing battery storage systems.
Additionally, last month, EPCG signed an MoU with the France-based renewable energy firm Qair to further advance renewable energy initiatives in Montenegro.
