The Danish company Makorn Holdings ApS is ready to invest €50 million in the Montenegrin company Plantaže through the Agrovoltaks project, aiming to address several systemic issues in grape and wine production.
The advisor to the President of Montenegro for regional development, Aleksandar Stijović, stated that representatives of the Danish company, operating as part of the TFE Invest ApS-owned group, officially contacted the President’s Cabinet regarding their intention to initiate an investment in Plantaže.
“It is a project that economically contributes to the further recovery of the company and the creation of added value. This company presented a project at the meeting focusing on green technologies, sustainability, economic benefits, technological progress, and market competitiveness,” said Stijović, mentioning that the investment amounts to approximately €50 million.
It was emphasized that Plantaže always retains ownership rights over the land.
He added that through the project, Plantaže would gain access to sustainable energy at a lower cost, potentially leading to long-term savings on electricity costs.
Stijović explained that “agrovoltaics,” the practice of combining agriculture and solar energy production, involves placing solar panels above agricultural land to harness solar energy while allowing crops to grow underneath.
The potential investor indicated that they would take on the obligation of complete capital investments, while Plantaže would provide specific land for a test area, municipal access, and necessary permits.
Plantaže, a well-known winemaking company in Montenegro, gained public attention in early September 2020 when irregularities were found in its operations by auditors. Two years later, accusations against the company’s director were dismissed.
