Representatives from UGT Renewables and Hyundai met with officials from the Electric Power Company of Montenegro (EPCG), continuing the dialogue that began in 2023. The discussions aim to optimize the use of available resources and technologies, contributing to the decarbonization of the energy sector and enhancing its stability. The meeting was attended by EPCG’s President of the Board, Milutin Đukanović, Executive Director Ivan Bulatović, Deputy Prime Minister Nik Đeljošaj, and Minister of Finance Novica Vuković.
EPCG reported that the meeting took place in a constructive atmosphere, with all parties expressing a strong commitment to further collaboration towards a green energy transition. The partnership between EPCG, UGT Renewables, and Hyundai began in 2022 with the signing of a Memorandum of Cooperation. According to EPCG, the latest meeting continues the efforts started in 2023 to make the best use of available resources and technologies to decarbonize the energy sector and improve stability.
The next steps will focus on finalizing previously agreed-upon projects, prioritizing the efficient use of resources and technologies that contribute to decarbonization and energy security. Đukanović emphasized that this ongoing dialogue underscores the dedication of all involved parties to a sustainable future and strengthening Montenegro’s energy independence. He also highlighted the importance of international partnerships in this process, noting that EPCG, UGT Renewables, and Hyundai see Montenegro as a promising destination for clean energy investments.
During the meeting, discussions also touched on the potential for investing in solar and wind power plants, improving the electricity grid, and developing new energy storage solutions to further bolster Montenegro’s energy infrastructure. Đukanović and Bulatović informed their counterparts about EPCG’s plans to build battery storage systems, with the first phase of procurement underway, including battery systems with a capacity of 2x30MWh. The representatives expressed their eagerness to work together to accelerate the implementation of planned initiatives, leveraging innovative solutions and global best practices.
