Montenegro has entered a phase in which energy policy is increasingly measured by concrete results, completed projects, new production capacities, stronger infrastructure and investments that open up space for a new development cycle, said Minister of Energy and Mining Admir Šahmanović.
“We have talked for a long time about the potential of Montenegro. Today we want to talk about the results, the projects that have been completed, the investments that have begun and the system that we are building so that we can implement even larger projects,” said Šahmanović at the opening of the fifth Energy Week Western Balkans, held in Budva.
The Ministry announced that this year’s Energy Week, under the slogan From Targets to Delivery, brought together representatives of energy companies, investors, international financial institutions and regional institutions, with a focus on the implementation of energy projects, investments and regional connectivity.
Šahmanović highlighted as concrete results the completion and start of trial operation of the section of the Trans-Balkan Corridor to Pljevlja, the completion of the first phase of the Gvozd wind farm with a capacity of 54,6 megawatts (MW), and the start of activities on the second phase, which will bring an additional 21 MW.
“For us, renewable sources are no longer just a number in strategies. They are new megawatts, new infrastructure and concrete investments,” Šahmanović pointed out.
He also recalled investments in the transmission network, including a loan arrangement from the French Agency for Development (AFD) and the Montenegrin Electricity Transmission System (CGES) worth EUR 25 million for the modernization of the Perućica and Pljevlja 2 substations, with a planned EU grant of EUR 8,5 million through the WBIF.
Speaking about energy security, Šahmanović also highlighted the work on the adaptation of three state reservoirs in the Port of Bar, with a total capacity of 17,6 thousand cubic meters, as well as the completion of the infrastructure project to relocate the Ćehotina riverbed in Pljevlja.
Šahmanović emphasized that, in addition to the implementation of specific projects, one of the key tasks was to create conditions for new investments.
“Natural potential alone is not enough for an investor. They need clear rules, good procedures, infrastructure and certainty that the investment will have a long-term framework. That is why today we are building a system in which a good investment idea has a shorter and safer path to realization,” said Šahmanović.
He highlighted progress within Chapter 15 – Energy as an important step in that process, stating that Montenegro has met the final benchmarks and expects to provisionally close the chapter by the end of the year.
“For us, this is not just another chapter in the negotiations. It means a more stable regulatory framework, greater predictability and additional security for investors,” said Šahmanović.
He announced continued work on accelerating the development of renewable sources, auctions for new capacities, and the preparation of the procedure for selecting a strategic partner for the development of battery systems for storing electricity.
He particularly emphasized the importance of international partnerships, including the strategic partnership with Masdar, assessing that they represent an important channel for mobilizing capital, technology, and knowledge.
“Montenegro is ready for a new investment cycle. We have the potential of renewable sources, an increasingly strong network and interconnections, a European harmonized regulatory framework and partners ready to invest in the energy future with us,” said Šahmanović.
The Energy Week panel dedicated to energy transition, investments and competitiveness was attended by State Secretary at the Ministry of Energy and Mining Dino Tutundžić, who presented the results that Montenegro has achieved in the process of energy transition and European integration.
Tutundžić spoke about energy sector reforms, harmonization of legislation with European rules, improvement of the market framework, and measures that contribute to creating a more stable investment climate.
He particularly emphasized that the results of the reforms are already being translated into more concrete conditions for investments, through clearer rules, the preparation of new market mechanisms, and the development of infrastructure that should enable the connection of new production capacities.
The fifth Energy Week Western Balkans continues to be a meeting place for decision-makers, investors, energy companies and international financial institutions, with a focus on projects that can shape the energy future of the region.
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