Montenegro has a significant opportunity to secure clean, stable, and affordable electricity for its citizens through a strategic partnership with EDF, one of Europe’s largest energy companies, as well as to develop a valuable export product, agreed Prime Minister Milojko Spajić and EDF’s Executive Director, Luc Remon, during a meeting in Davos, as reported by the Prime Minister’s Cabinet.
According to the statement, in September, EPCG signed a Memorandum of Cooperation with EDF, and at today’s meeting, it was decided to involve the Italian company Edison, a part of the EDF Group, in the development of projects aimed at further advancing Montenegro’s energy system. Edison brings significant expertise in harnessing hydro potential.
“Nuclear and hydropower energy are extremely important as the foundation for the stability of the energy grid and the production of energy at affordable prices. This ensures security for all European citizens and reduces dependence on other energy sources,” emphasized Remon.
Spajić pointed out that this is a huge opportunity for Montenegro’s economic development, as the country possesses significant untapped hydro potential that is environmentally friendly.
“Building new production capacities will ensure a stable supply of electricity, support the green transition we aim for, and provide the additional benefit of energy exports. This is especially important given the planned doubling of the undersea cable capacity connecting us to Italy by 2027. It is crucial that we enter this process with credible companies, as such strategic partnerships have been lacking in the past,” said Spajić.
The meeting concluded that the joint interest lies in cooperation on energy transition and the development of new hydroelectric plants.
