VIMAB, a Swedish industrial group listed on Nasdaq First North Growth Market, is considering developing battery energy storage in Montenegro after signing a memorandum on possible energy cooperation with the Montenegro Investment Agency on 20 October, the company said two days later. The memorandum was signed at the EU-Montenegro investment conference in Portonovi. Potential cooperation would cover electricity storage, energy management and support for grid stability.
VIM Energy Systems, a VIMAB group company expanding in Eastern Europe, contracted in August to deliver a battery park in Moldova. The contract, worth approximately 190 million Swedish kronor, covers design, supply, installation and commissioning. Esco-Voltaj is the client for the project, which is intended for state company CET-Nord; commercial operation is scheduled to begin in the first quarter of 2027. The Moldovan contract followed a pilot agreement to supply battery systems in Albania.
The International Energy Agency’s Electricity 2026 report says batteries can respond quickly to changes in power systems, help balance the grid and shift renewable energy use to periods of higher demand. Storage can help generators align production with market needs, while each project requires technical and economic assessment.
