Montenegro: Law on renewable energy sources to secure safe business environment, SEE Energy News
The finalization of the Law on Renewable Energy Sources is a key step towards establishing rules for future projects, which will provide a favorable and safe business environment for investors, but also protect the interests of the state and local communities.
This was assessed at a meeting between the Minister of Energy and Mining, Saša Mujović, and the head of the European Bank for Reconstruction and Development (EBRD) office in Montenegro, Remon Zakaria, who said that, in addition to tourism, energy is an economic development opportunity for Montenegro.
As announced by the Ministry of Energy and Mining, today’s meeting was an opportunity to exchange views and opinions on the possibilities of expanding, so far successful and intensive cooperation between international financial institutions and the Montenegrin Government and companies in the field of energy.
– The EBRD provided Montenegro with significant financial and technical support for the implementation of projects in the field of energy, and especially in the field of renewable energy sources – said the Ministry.
They stated that, for the continuation of cooperation, the need to finalize the Law on Renewable Energy Sources was recognized as a priority, for the drafting of which the EBRD was provided with technical support in an earlier period.
– As the interlocutors assessed, the drafting of that legal solution represents a key step in establishing rules for future projects, which will not only provide a favorable and safe business environment for investors, but will also protect the interests of the state and local communities – the statement said.
As it is added, the Krnovo wind power plant and small hydroelectric power plants on the Bistrica-tributary Ljuboviđe watercourse are some of the projects on the implementation of which the EBRD is cooperating with the line ministry.
Zakaria presented some of the infrastructure projects that the EBRD is preparing and implementing in cooperation with companies in the field of energy.
One of the current projects, for which technical documentation is being prepared, is the construction of a 50 MW photovoltaic power plant on Salt Lake.
– The EBRD provides significant financial support for the implementation of energy efficiency projects in cooperation with Montenegrin commercial banks, which offer specially designed products for citizens with the aim of improving energy efficiency in their areas – said the Ministry.
As they added, the EBRD plans to implement a project to improve energy efficiency in health and educational facilities in cooperation with relevant