Strengthening the Legal Framework to Open a New Investment Cycle

Our goal is to offer investors a clear and transparent system that will enable the realization of quality projects and further accelerate the green energy transition," said Minister of Energy and Mining Admir Šahmanović at a meeting with representatives of the European Bank for Reconstruction and Development (EBRD). Minister Šahmanović met with the newly appointed EBRD Executive Director for Southeast Europe Grzegorz Zieliński, Infrastructure Director Elena Gordeeva, newly appointed EBRD Office Head in Montenegro Ekaterina Solovova, who will take office in September this year, and current EBRD Office Head in Montenegro Remon Zakaria. Special attention was given to creating conditions for the successful implementation of the next auction process, which should enable stronger private sector involvement in energy project development and contribute to achieving national goals in the green transition. Participants agreed that auctions are one of the most important mechanisms for attracting investments in renewable energy sources and can provide significant incentives for developing new projects, strengthening energy independence, and accelerating Montenegro's green transition. It is our responsibility to create a quality regulatory framework and ensure that serious partners who are ready to implement projects that will bring new value to the Montenegrin economy and energy sector enter the market," during the meeting, they also discussed the process of a just transition, for which EBRD expressed interest and readiness to provide expert and financial support for future activities. Therefore, we welcome every initiative and project that can contribute to the long-term transformation of Pljevlja and improve the quality of life of the local community," the meeting confirmed mutual readiness to continue successful cooperation between the Ministry of Energy and Mining and EBRD on implementing reform processes and investment projects that will contribute to the modernization of the energy sector, strengthening the investment climate, and sustainable development of Montenegro.