Montenegro: RES subsidies to be financed from carbon emission allowances, SEE Energy News
The Montenegrin Government adopted a decision about the allocation of funds collected through the public auction for carbon emission allowances for 2022. The only participant in the auction was state-owned power utility EPCG. The auction raised 9.26 million euros from the sale of emission allowances.
These funds will be used for environmental protection, promotion of renewable energy sources and innovation in line with the Smart Specialization Strategy. The total funds available to the Eco-fund is 7.87 million euros, while the remaining portion of almost 1.39 million euros is from corporate income tax.
The Government decided to allocate 4.1 million euros for the promotion of renewable sources, co-financing the Solari 3000+ and 500+ projects.
Additional 2.67 million euros will be used for environmental protection and 1.1 million euros to stimulate innovation in accordance with the Smart Specialization Strategy.