Page 153 - SE Outlook Regions 2024

households, the government intends to find a way to compensate for the rise so that it keeps inflation low.
In November, Montenegro's power company EPCG signed a memorandum of understanding (MoU) with Poland’s Respect Energy for the development and exploitation of renewable energy sources in the Adriatic country.
Under the MoU, EPCG and Respect Energy will determine the possibilities for establishing a joint venture and for developing future renewable energy projects. The projects include the construction of an offshore wind farm, a battery storage plant and a solar power plant in Montenegro.
The MoU also envisages the development of an ammonia and hydrogen plant equipped with an electrolyser.
Also in November, CGES and its Serbian peer, Elektromreze Srbije (EMS), signed an agreement on cooperation on the Trans-Balkan electricity corridor. The corridor, when completed, should connect the energy systems of Bulgaria, Hungary, Romania, Serbia, Bosnia & Herzegovina and Montenegro. The construction of the Trans-Balkan Electricity Corridor is seen as a project of exceptional regional interest that improves network reliability and stability, and secures stable connections for transmission system users.
Under the agreement, CGES and EMS will work together to build a 400 kV cable network in the two countries, as well as interconnection between them.
Another energy project the Adriatic country plans is the construction of a liquified natural gas (LNG) terminal at the port of Bar. Enlargement Commissioner Oliver Varhelyi said that the EU is ready to fund the project. However, 27 NGOs sent a joint letter to European Commission President Ursula von der Leyen, calling on her not to back the construction of the terminal.
According to the NGOs, if the LNG terminal is built, it would create a carbon lock-in for Montenegro that the country would not be able to resolve before the 2050s. They accuse the European Commission of actively encouraging higher gas consumption across the Western Balkans countries.
The construction of the LNG terminal would also require the construction of a network of new pipelines. The NGOs say in the letter that it would be unrealistic for Montenegro, based on its size, limited institutional capacity and empty state coffers, to make another transition from gas towards renewables by 2050.
In May, Montenegro’s government signed a memorandum of understanding with two US companies, Enerflex Energy Systems and Wethington Energy Innovation, on the construction of a LNG terminal in or near the Port of Bar, and a gas-fired power plant.
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