NewsMontenegro embarks on strategic energy partnership with EDF Energy

Montenegro embarks on strategic energy partnership with EDF Energy

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Montenegro is forging a strategic partnership with the renowned French company EDF Energy, announced Prime Minister Milojko Spajić. The objective, according to Minister of Energy and Mining Saša Mujović, is to establish a significant source of electrical energy after an extended period. Montenegro has committed to two projects: the Kruševo hydroelectric power plant and one on the Ćehotina River.

Spajić, addressing a press conference to unveil the partnership, highlighted EDF Energy’s status as a European leader in electro-energy, boasting a staggering revenue of 170 billion euros and a workforce of 200,000. He emphasized the company’s extensive expertise in hydropower utilization.

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“EDF Energy’s stature in the industry positions them perfectly to assist us in our upcoming projects. Their involvement will not only benefit Montenegro but also the broader region,” stated Spajić.

Mujović, during the conference, underscored the government’s commitment to tangible progress in the energy sector. Despite Montenegro’s abundant wind and solar potential, Mujović stressed the necessity of developing larger energy facilities.

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“After a prolonged hiatus, it’s imperative to establish new and robust sources of electrical energy. We’ve proposed two projects: the Kruševo hydroelectric power plant and one on the Ćehotina River,” noted Mujović.

Addressing concerns over the Komarnica project, Minister Mujović reiterated the government’s accountability to institutions and public skepticism.

“We envision a future where we’re both producers and consumers of electrical energy, and this partnership with EDF will facilitate that vision,” added Mujović.

Spajić assured that if the Komarnica project lacks an environmentally sustainable solution, it will not proceed.

Mujović also highlighted EDF Energy’s leadership in nuclear energy and discussions about potential projects in Montenegro.

“While it may be premature, there’s significant expertise in this domain. We cannot afford to miss out on such development opportunities and must showcase energy as our avenue for progress,” concluded Mujović.

Regarding funding, Prime Minister Spajić clarified that the projects will be financed from the market, not the national budget.

“Securing finances won’t be the challenge; the real hurdle lies in accessing technical expertise. Hence, our eagerness to partner with EDF,” emphasized Spajić.

He also noted EDF’s preference for a minor partnership role over profit extraction.

“They’ve expressed a desire for enduring cooperation, and we’re eagerly embracing a strategic partnership. As for formal arrangements, we’re hopeful that time will come,” concluded Spajić.

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