Podgorica, (MINA-BUSINESS) – According to the Ministry of Energy and Mining, the prominent company Masdar has confirmed strong interest in a strategic partnership with Montenegro in the field of energy, and further steps will be taken in the coming period to define this cooperation more concretely.

Montenegro’s Minister of Energy and Mining Admir Sahmanovic and Minister of Public Works Majda Adzovic met today with Masdar’s Chief Executive Officer Mohamed Jameel Al Ramahi and his team to continue discussions on concretizing cooperation and on projects that are among the top priorities of the Government of Montenegro and could be of mutual interest in the coming period.

“It was concluded that the meeting is an important step toward further concrete cooperation and a confirmation of the strong interest of the prominent company Masdar in a strategic partnership with Montenegro in the energy sector,” the statement said.

Sahmanovic said that Montenegro is strategically building its position as a long-term reliable and competitive player in the European energy market, adding that the development of energy infrastructure and renewable energy sources are among the key national priorities.

Adzovic said that the extensive experience of the United Arab Emirates in developing energy and public-sector infrastructure is of great importance to Montenegro, especially during a period of intensive expansion of capacities based on renewable energy sources.

Masdar representatives said they are ready for their expert teams to continue technical discussions with the management of Elektroprivreda (EPCG) and the Montenegrin Electricity Transmission System (CGES), with the aim of identifying priority and mature projects for joint implementation.

CGES Executive Director Ivan Asanovic presented projects that are in the final stages of implementation, noting that significant funds are being invested in upgrading the transmission network as a prerequisite for integrating new green energy sources and ensuring their reliable connection to the power system. 

EPCG Executive Director Zdravko Dragas and EPCG Director of the Development and Investments Sector Ivan Mrvaljevic noted that the development of green energy is the top priority of the national energy company, adding that around 200 megawatts (MW) of new renewable energy capacity is currently under development. 

It was announced that further discussions with Masdar on cooperation models, potential investments, and the selection of projects that could be the first to enter the implementation phase will follow in the coming period.