Elektroprivreda Crne Gore (EPCG) and the French company Electricité de France (EDF) have signed a Memorandum of Understanding, establishing a foundation for long-term collaboration in energy transition and low-carbon technologies. This memorandum aims to create a framework for strategic partnership focusing on developing new hydropower plants and other renewable energy projects, emphasizing environmental protection and social responsibility. The agreement marks a significant step toward enhancing Montenegro’s energy security, leveraging EDF’s expertise as one of Europe’s leading energy companies.
The memorandum is designed to set up a long-term dialogue on energy transition and areas of mutual interest where EDF can contribute as a strategic partner, including roles as a designer, co-investor, and operator in hydropower and potentially other agreed sectors.
Milutin Đukanović, Chairman of the EPCG Board of Directors, highlighted hydropower as a key development potential for Montenegro, suggesting that the energy sector can drive the country’s growth.
“This signing demonstrates that reputable Western companies are positively inclined toward the ideas of both EPCG and the Ministry of Energy, reflecting our commitment. I assure you that we will be dedicated to realizing the projects we are discussing,” Đukanović stated at the signing ceremony held at Villa Gorica.
EPCG Executive Director Ivan Bulatović expressed satisfaction with the memorandum, emphasizing the goal of implementing carefully selected joint projects.
“This agreement underscores EPCG’s commitment to its European path and our dedication to expanding the energy sector,” Bulatović noted.
He mentioned that the memorandum anticipates investments in green energy and renewable sources and thanked EDF for recognizing EPCG as a partner.
Marc Girard, EDF Vice President for Europe and Central Asia, shared that discussions during Prime Minister Milojko Spajić’s visit to France in June focused on EDF’s potential contributions to Montenegro’s energy development.
“Since then, expert teams from both companies have been working on furthering our cooperation,” Girard added.
EDF is actively exploring project opportunities across Europe and is already engaged in various projects in Africa, Asia, and Europe.
Minister of Energy Saša Mujović expressed confidence that combining EDF’s expertise with EPCG’s strengths could lead to significant hydropower development.
“If a strategic partnership is formed, everything will be public, transparent, and accessible, allowing every citizen of Montenegro to understand the benefits of such a partnership,” Mujović stated.
Prime Minister Milojko Spajić expressed his pleasure at the progress made in discussing implementable projects and Montenegro’s potential.
He praised EPCG’s team for their substantial efforts since the initial meeting with EDF in Paris.
“Congratulations to Elektroprivreda for collaborating with a renowned partner—the largest energy company in Europe and one of the largest in the world, known for its clear vision and outstanding technologies in electricity production,” said the Prime Minister, noting the interest from numerous partners in exploring Montenegro’s hydropotential.
French Ambassador to Montenegro Anne-Marie Maskay congratulated both companies on their successful partnership.
“The cooperation between France and Montenegro encompasses defense, health, infrastructure, and environmental issues. I look forward to further developing our collaboration across all sectors,” Maskay concluded.
The scope of cooperation can be expanded to other mutually agreed areas between EPCG and EDF, potentially including the design of large-scale photovoltaic systems related to hydropower projects, energy storage solutions such as batteries, and green hydrogen initiatives, which will enhance grid flexibility and integrate renewable energy sources.
The signing ceremony was attended by Ivan Mrvaljević, Executive Director of EPCG’s Development and Investment Directorate, as well as EDF representatives for Europe and Central Asia, Yann Guinard and Laurent Paganon.
