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- Renewable Energy Sources Association to serve as unified voice for investors
- Priorities include supporting existing investors and attracting future ones
- Establishment of the association was funded by the European Union
Montenegro is taking an important step in advancing its green transition with the launch of the country’s Renewable Energy Sources (RES Montenegro) Association, a new platform bringing together existing and potential investors in the renewable energy sector.
The association has been set up with the support of the European Bank for Reconstruction and Development (EBRD) and the European Union (EU).
Founded by leading wind and solar developers active in Montenegro – Alcazar Energy, Qair Group and Simes – the association will serve as a unified voice for renewable energy investors. Its mission is to facilitate public-private dialogue, help to shape a stable and transparent regulatory environment, and support the country in unlocking its full renewable energy potential.
The RES Association will also promote the importance of renewable energy domestically and strengthen Montenegro’s visibility internationally, with the aim of attracting further private-sector investment. It will help investors navigate key challenges such as grid connection, balancing obligations, taxation, environmental procedures and other administrative requirements, making it easier to develop and deliver renewable energy projects.
Remon Zakaria, EBRD Head of Montenegro, said: “The launch of the RES Association follows recent improvements to Montenegro’s renewable energy framework, including the adoption of the new Law on Renewable Energy Sources and the introduction of competitive auctions – reforms also implemented with EBRD support and funding from the EU, Austria, Italy and the EBRD. We look forward to continuing our close cooperation with investors, and we trust that the association will be a strong partner as it assesses and develops new renewable energy projects in Montenegro.”
Admir Šahmanović, Montenegro’s Minister of Energy and Mining, added: “Energy is one of the key global political and economic issues today. A stable regulatory framework and partnership with investors and international financial institutions, along with the establishment of the Renewable Energy Sources Association, sends a strong signal that Montenegro is recognised as a serious investment destination and that now is the right time to combine potential and capital and make strategic strides in the energy sector.”
Marko Radulović, President of RES Montenegro and Alcazar Energy’s General Manager for Montenegro, said: “The question for Montenegro is no longer if we will transition to clean energy, but ” how and how fast we can do it. Our association brings together credible investors committed to working with government and communities to unlock the country’s exceptional renewable potential and deliver long-lasting value.”
Bernard Brunet, EU Delegation to Montenegro, Head of Cooperation, said: “The European Union is a staunch believer in the importance of renewable energy and welcomes the creation of the RES Association in Montenegro. The country has great potential for further developing its renewable energy sector and it has taken ambitious reform steps, notably in the context of its EU Reform Agenda. As a result, we have witnessed increased interest from European investors, particularly regarding market coupling with the EU electricity market. We encourage a fruitful dialogue between the authorities and the members of the association, and more widely with all stakeholders, to ensure the further development of the sector.”
The establishment and initial operation of the RES Association are funded by the EU. Its work is aligned with the country’s commitments under the EU Reform Agenda and Growth Plan. This includes the publication of a three-year auction plan for at least 400 MW of new renewable capacity by 2027, a measure aimed at boosting investment and accelerating the green transition.