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Wednesday, April 24, 2024
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Foreign investors are interested in solar energy in Montenegro

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Montenegro has significant potential in the field of renewable energy sources, announced President Jakov Milatović. He emphasized that there is interest from international investors, especially in solar energy, which has not been fully utilized in our country so far.

As stated by the president’s office, Milatović hosted a working breakfast for the President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, and members of her delegation, marking their second meeting following last year’s encounter in London.

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He highlighted that the EBRD is our key strategic partner in shaping a sustainable economy, emphasizing the importance of their expert support and favorable lending conditions for continuing the construction of the highway and other major and challenging infrastructure projects.

During the discussions, Milatović briefed the EBRD representatives on the results Montenegro has achieved in the rule of law and institutional independence, opening up opportunities for further intensification of the investment cycle in our country.

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He added that with the support of EBRD partners, our administration is enhancing its capacities and preparing for better utilization of EU accession funds.

Milatović pointed out the significant potential Montenegro has in renewable energy sources, noting the interest from international investors, especially in solar energy, which, as he stated, has not been fully utilized in our country so far.

EBRD President Odile Renaud-Basso expressed support for Montenegro in furthering reforms and attracting foreign investments towards EU accession in line with the EBRD’s strategic priorities, which include the green transition plan, enhancing private sector capacity, and connectivity, including cross-border transport, energy, and digital connectivity.

The interlocutors assessed the cooperation between Montenegro and the EBRD as excellent and substantive, recalling numerous joint projects implemented in our country in the previous period.

Milatović also highlighted the EBRD’s contribution to enhancing the competitiveness of small and medium-sized enterprises in Montenegro and stressed the importance of establishing a credit guarantee fund with EBRD support in the near future.

In conclusion, he stated that Montenegro has a great developmental opportunity in the field of green transition, seeking EBRD’s support in the upcoming period.

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