With the help of the EBRD, Voli switches to solar energy sources

The European Bank for Reconstruction and Development (EBRD) signed today in Podgorica a loan agreement, worth EUR 4 million, with Voli, the largest Montenegrin retail chain.
The EBRD announced that Voli will use the funds for the purchase and installation of solar panels with a capacity of up to four megawatts (MW) and charging stations for electric vehicles in its facilities and logistics center.
The feasibility study for that project was supported by donor funds from the Austrian DRIVE fund.
– Voli will protect itself from potential future volatility in energy prices, which remains a hot topic after European economies felt the effects of energy price changes as a result of the Russian invasion of Ukraine. A significant reduction in carbon dioxide (CO2) emissions will be achieved – the announcement states.
The possibility to charge electric vehicles there will make Voli, as they said, more attractive to customers and tourists.
The head of the EBRD for Montenegro, Remon Zakaria, announced that green energy and energy security are their priority both in the region and in Montenegro.
– Our long-term client Voli made another great decision to supply their modern retail facilities with their own solar energy, which will contribute to the decarbonization of their business and the provision of energy supply in the coming decades – said Zakaria.
EBRD’s regional head of agribusiness for Southeast Europe, Miljan Ždrale, said that he is glad to see that the EBRD continues to work with its long-term partner Wally through this green investment.
– The project will support the company’s energy efficiency in the current turbulent energy market. At the same time, this will help reduce the emission of harmful gases and affect the improvement of overall competitiveness – said Ždrale.
The President of the Board of Directors of the Voli company, Dragan Bokan, said that in the coming years, the company’s plans are to increasingly develop projects aimed at energy efficiency and, as a large consumer of electricity, by investing in the construction of solar panels, contribute to reducing pollution and protecting environment through the reduction of carbon dioxide emissions.
– Our responsibility towards the community in which we develop implies that we have an ear for issues of general interest and that we think about the future of our community and our children. For this reason, we support innovative solutions, with the aim of making the world around us a healthier and better place to live – said Bokan.
Voli is the leading retail chain in Montenegro and the largest employer with 2.4 thousand employees. The company was founded in 1995 and began cooperation with the EBRD in 2009. The bank is also Wally’s minority investor since 2015.
To date, the EBRD has invested EUR 725 million in Montenegro.

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