EPCG and the Polish company Respect Energy Holding sign a MoU
The President of the Board of Directors of Elektroprivreda Crna Gora (EPCG) Milutin Đukanović and the Vice Presidents of the Polish company Respect energy Holding, Tomasz Zadroga and Simon Bližniak signed a Memorandum of Understanding (MoU) on future projects for the development and exploitation of renewable resources in Montenegro.
“I have mentioned many times the decade-long stagnation of our economy, but until now, fortunately, we are able to effectively develop EPCG and our economy in general by establishing such partnerships and recognizing good projects.” I am sure that the signing of this Memorandum of Understanding with such a respectable partner is only the beginning of a long-term and successful cooperation for mutual satisfaction”, said the President of the Board of Directors of EPCG Milutin Đukanović.
By signing the Memorandum, EPCG and Respect energy Holding agreed to determine the possibilities of creating a joint venture and developing future renewable energy projects, including: the development and operation of an offshore wind farm with an approximate very significant production capacity, as well as the development of a battery plant for electricity storage and a solar power plant in Montenegro. Additionally, the Memorandum envisages the development of an ammonia and hydrogen production facility equipped with an electrolyzer.
“Joining forces with EPCG, the main producer and supplier of electricity in Montenegro, represents our firm intention to expand our business, both on the domestic market and throughout the Balkans.” We are pleased to cooperate with our Montenegrin partners on projects of renewable energy sources, such as: ammonia production plant, coastal wind farm and solar park. Our partnership will help the domestic energy system to expand towards renewable energy sources,” said Tomasz Zadroga, among other things.
The signing of the Memorandum was also attended by the Ambassador of Poland to Montenegro, Andrzej Papierz, as well as representatives of the Government and relevant ministries, as well as representatives of the South Banat Energy Hazelnut company.
Montenegro Explores Green Ammonia and Hydrogen Production with European Investors
The government-controlled power company, Elektroprivreda Crne Gore (EPCG), is teaming up with European investors to explore the production of green ammonia and hydrogen. These ambitious projects align with Montenegro’s goal of transitioning to clean energy and reducing carbon emissions.
The primary aim of these projects is to produce ammonia from renewable energy sources, with a focus on wind and solar power. Ammonia, a versatile compound, finds applications in various industrial processes across different sectors, including energy production.
What makes this initiative even more promising is the consideration of hybrid energy production
Western European companies have expressed interest in the production of green hydrogen, which complements the vision of utilizing renewable energy sources. This synergy between renewable energy and hydrogen could include the incorporation of gas power plants into these projects. EPCG has previously hinted at its plans to construct hybrid power plants that blend renewable sources with natural gas.
Both ammonia and hydrogen play pivotal roles in the energy transition. They serve as energy storage solutions and can be used as clean fuels. Additionally, they hold potential as raw materials for various industries, underlining their significance in the ongoing shift toward sustainable energy practices.
While the details are still in the early stages, Montenegro’s exploration of green ammonia and hydrogen production represents a significant step forward in its commitment to a greener, more sustainable energy future. The collaboration with European investors and the utilization of renewable energy sources align with global efforts to combat climate change.
