Nu Energy and Nu Energy and Investment plan to invest approximately €50 million in a solar and battery development near Cetinje, expanding their renewable portfolio in Montenegro. The project is described as a Velestovo initiative. It would combine a 50 MW solar plant with a 50 MW/100 MWh battery system. The battery would provide two hours of storage at full rated output.
Velestovo solar-battery configuration
The Velestovo project pairs generation and storage within the same development. The solar component is set at 50 MW, while the battery system totals 50 MW with 100 MWh of capacity. At full rated output, the storage duration is stated as two hours. Storage is intended to allow the project to retain part of its solar production and release it later.
Grid connection progress with CGES
A US-Turkish developer has secured a connection agreement with transmission operator CGES. The agreement advances a key requirement for bringing the project onto the network. The role of storage includes reducing dependence on selling all electricity during daylight hours. The project’s commercial value is linked to the difference between charging and discharge prices.
Nu Energy’s Montenegro pipeline and existing assets
Nu Energy already operates solar plants in Tuzi and Župa. The company is also preparing another development at Bogetići. Its overall Montenegrin project portfolio is valued at more than €100 million. The planned battery component would extend activities beyond standalone solar generation.
The commercial outcome for the Velestovo setup would also depend on terms governing grid access and market participation. These factors are presented alongside charging and discharge price differentials. The development remains positioned as a solar-plus-storage project within Montenegro’s power system context.
