BAKU, Azerbaijan, January 16. Masdar, a global
clean energy developer, and Montenegro’s national power utility,
Elektroprivreda Crne Gore (EPCG), have agreed to explore a joint
venture to develop large-scale renewable energy projects in
Montenegro, Trend reports via Masdar.
The agreement was signed at Abu Dhabi Sustainability Week
2026.
Under the terms of the deal, Masdar and EPCG will examine
opportunities to develop, construct, own, and operate clean energy
projects across multiple technologies, including solar
photovoltaic, wind, hydropower, standalone battery storage, and
hybrid systems.
The partnership aims to meet Montenegro’s domestic energy demand
while enabling renewable electricity exports to the Balkans and
Southeast Europe, leveraging the country’s existing subsea
connection with Italy and potential network expansion.
The collaboration combines EPCG’s position as Montenegro’s
leading energy producer with Masdar’s global expertise in renewable
energy project development. The initiative is intended to enhance
Montenegro’s energy security and support the broader energy
transition in Europe.
The agreement builds on the UAE-Montenegro Energy Cooperation
Agreement signed in November 2025 and Masdar’s existing presence in
Montenegro through its 2018 investment in the 72-megawatt Krnovo
Wind Farm, the country’s largest operating wind project. It also
complements Masdar’s expansion in Southeast and Central Europe via
its Greek platform, TERNA ENERGY, acquired last year.
