Montenegro Launches Renewable Energy Sources (RES) Association With EBRD And EU Support To Unite Investors And Boost Green Transition

Montenegro has taken a significant step forward in advancing its green energy transition with the launch of the Renewable Energy Sources (RES Montenegro) Association, a new platform designed to bring together existing and prospective investors in the country’s renewable energy sector. The association was established with the support of the European Bank for Reconstruction and Development (EBRD) and the European Union (EU) and aims to serve as a unified voice for renewable energy stakeholders.

The association was founded by leading wind and solar developers active in Montenegro, including Alcazar Energy, Qair Group, and Simes. Its primary mission is to facilitate public-private dialogue, support the development of a stable and transparent regulatory framework, and help Montenegro unlock its full renewable energy potential. In addition, the RES Association will promote renewable energy domestically, enhance Montenegro’s visibility internationally, and attract further private-sector investment. The platform will assist investors in navigating key challenges such as grid connection, balancing obligations, taxation, environmental procedures, and other administrative requirements, making it easier to develop and implement renewable energy projects.

Remon Zakaria, EBRD Head of Montenegro, emphasized that the launch of the RES Association follows recent improvements to the country’s renewable energy framework, including the adoption of a new Law on Renewable Energy Sources and the introduction of competitive auctions. These reforms were implemented with support from the EBRD and funding from the EU, Austria, and Italy. Zakaria expressed confidence that the association would become a strong partner in assessing and developing new renewable energy projects in Montenegro.

Montenegro’s Minister of Energy and Mining, Admir Šahmanović, highlighted the global importance of energy and stressed that a stable regulatory environment, combined with partnerships between investors and international financial institutions, positions Montenegro as a credible investment destination. He noted that the establishment of the RES Association sends a clear signal to the market that the country is ready to combine its renewable energy potential with investment to achieve strategic growth in the energy sector.

Marko Radulović, President of RES Montenegro and General Manager of Alcazar Energy in Montenegro, stated that the country’s focus is no longer on whether it will transition to clean energy, but rather on how quickly and effectively it can do so. He explained that the association brings together credible investors committed to working with government authorities and local communities to unlock Montenegro’s renewable energy potential and deliver lasting value.

Bernard Brunet, Head of Cooperation at the EU Delegation to Montenegro, welcomed the creation of the RES Association, highlighting Montenegro’s strong potential for renewable energy development and the ambitious reforms it has undertaken as part of its EU Reform Agenda. He noted that these reforms have increased interest from European investors, particularly in relation to market integration with the EU electricity system, and encouraged ongoing dialogue between authorities, association members, and other stakeholders to ensure further sector growth.

The establishment and initial operations of the RES Association are funded by the European Union and align with Montenegro’s commitments under the EU Reform Agenda and Growth Plan. As part of these efforts, the government has published a three-year auction plan to deliver at least 400 MW of new renewable energy capacity by 2027, a measure intended to accelerate investment and support the country’s green transition.