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Exploring renewable energy strategies: Highlights from ESG Adria Summit Panel

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Minister of Energy and Mining, Saša Mujović, emphasized that utilizing renewable energy sources is not merely a choice but rather an imperative duty. Speaking at a panel during the regional ESG Adria Summit in Tivat, Mujović underscored the significance of legislative frameworks preceding concrete actions. Montenegro, he highlighted, is committed to reducing carbon dioxide (CO2) levels by 55% by 2030, with a long-term goal of achieving carbon neutrality.

Highlighting Montenegro’s vast potential in hydro-solar and wind energy, Mujović stressed the importance of renewable resources. Meanwhile, Assistant Minister of Mining and Energy of Serbia, Jovana Joksimović, outlined the challenge posed by the unpredictable nature of renewable energy sources. She elaborated on Serbia’s plans for harnessing hydro energy, including the development of projects such as the Bistrica hydroelectric power plant.

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Maja Turković, Executive Vice President of CWP Europe, lauded the support provided by the European Bank for Reconstruction and Development (EBRD) in facilitating Serbia’s legislative framework for power purchase agreements. Turković emphasized the importance of competitive auctions in ensuring the affordability of electricity for consumers.

Matteo Colangeli, Director for the Western Balkans at EBRD, announced their support for renewable energy auctions in Albania and reiterated their commitment to expanding such initiatives in Montenegro. Additionally, Daniel Calderon, Co-founder of Alcazar Energy, highlighted the challenges associated with power purchase agreements in the region, emphasizing the need for collaboration and appropriate investment frameworks.

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Overall, the panel underscored the imperative of legislative support, international collaboration, and strategic planning in fostering sustainable energy transitions across the region.

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