Montenegro is on the verge of significant advancements in its renewable energy sector, with the finalization of legislation and the imminent launch of auctions for market premiums. At the EPCG NET 2024 symposium, stakeholders discussed the latest developments and future prospects.
The forthcoming law on the utilization of electricity from renewable sources is reaching its conclusive stages, soon to be presented to lawmakers. This legislation aims to align Montenegro’s energy practices with EU standards and facilitate the adoption of renewable energy initiatives.
Anticipation surrounds the announcement of the first auctions for market premiums, slated for early next year. These auctions are poised to catalyze investment in renewable energy projects, supported by the European Bank for Reconstruction and Development.
The symposium emphasized the pivotal role of Power Purchase Agreements (PPAs) in driving renewable energy adoption. PPAs facilitate direct procurement of green energy from renewable sources, promoting sustainability and reducing carbon footprints.
Biljana Ivanović, State Secretary at the Ministry of Energy and Mining, outlined the government’s commitment to advancing renewable energy policies. She highlighted the importance of creating a conducive regulatory framework to spur renewable energy development.
Industry experts underscored the significance of a robust economy as a precursor to successful PPA implementation. They emphasized the need for healthy market dynamics, supported by transparent pricing mechanisms.
The discourse also delved into the potential of renewable energy projects across the region. With Montenegro boasting substantial solar and wind energy potential, there is growing optimism for future investments in green infrastructure.
As Montenegro navigates its transition towards renewable energy, stakeholders are optimistic about the country’s prospects. The forthcoming legislation and initiatives such as PPAs and market premiums are poised to accelerate Montenegro’s journey towards a sustainable energy future.”
