The two solar projects form part of a wider joint venture between Masdar and Montenegro’s national power utility that is aiming to develop 2 GW of large-scale renewables in the country.
Abu Dhabi-based developer Masdar has entered into joint development agreements with Montenegrin power utility Elektroprivreda Crne Gore (EPCG) covering two solar projects in Montenegro.
The agreements encompass the 115 MW Štedim solar project and 35 MW Krupac solar project. Masdar and EPCG also signed a framework agreement to explore the joint development of over 400 MW of pumped hydro energy storage projects.
The agreements form the first project commitments following the signing of a 50/50 joint venture between the two companies earlier this year. The partnership is targeting the development of 2 GW of renewable capacity in Montenegro across a number of technologies including solar, wind, hydropower, pumped hydro, battery storage and hybrid energy solutions.
The 2 GW portfolio is expected to serve Montenegro’s domestic energy needs while also enabling the export of renewable electricity to the Western Balkans and Southern Europe, including leveraging an existing sub-sea interconnection with Italy.
