Montenegrin state-owned power utility EPCG and US company UGT Renewables have signed an agreement on joint development of renewable energy and energy storage projects.
CEO of UGT Renewables Adam Cortese said that the company would help Montenegro in swift and efficient transition to cleaner energy with its novel approach to solar and energy storage project development, which provides turn-key solutions to sovereign partners that include the development, design, engineering, construction and commissioning of utility-scale solar power plants with energy storage facilities to be owned and operated by state-owned utilities.
UGT Renewables has a strategic partnership in Europe and Asia with Korean Hyundai Engineering, with whom EPCG signed a separate agreement on cooperation.
Montenegrin Prime Minister Dritan Abazovic said that he hopes that the cooperation with the two renowned companies would result in the construction of the country’s first large-scale solar power plant. He added that Montenegro wants to become a green energy hub, to use the connection that it already has with Italy via the submarine cable, but also the interconnections that are yet to be built, to connect with other countries so that Montenegro could become an electricity exporter at some point.
UGT Renewables is already in talks on signing similar agreements with Serbian and North Macedonian state-owned power utilities EPS and ESM.