Montenegro Archives - Page 15 of 15 - On-the-Ground CBAM Execution in Serbia

Montenegro: Alcazar Energy submits EIA for 119 MW Bijela wind farm Read More »

Montenegro: Alcazar Energy submits EIA for 119 MW Bijela wind farm

The Montenegrin Environmental Protection Agency (EPA) has announced that Vjetro Park Bijela, a subsidiary of Luxembourg-based renewables developer Alcazar Energy, has submitted a request for approval of an environmental impact assessment (EIA) for its 119 MW Bijela wind farm. The EIA covers the planned wind farm development in the northern municipality of Savnik, which will […]

Montenegro: Jugopetrol maintains steady profit in 2024 despite slight asset decline Read More »

Montenegro: Jugopetrol maintains steady profit in 2024 despite slight asset decline

Montenegrin fuel retailer Jugopetrol posted a net profit of 7 million euros in 2024, maintaining a similar performance as the previous year. The company’s net sales grew by 1.1%, reaching 255.5 million euros, while its operating expenditures increased by 0.7%, totaling 243 million euros. At the close of 2024, Jugopetrol’s total assets stood at 126.8

Montenegro: CGES reports decline in net profit for 2024, despite reduced operating expenses Read More »

Montenegro: CGES reports decline in net profit for 2024, despite reduced operating expenses

Montenegrin electricity transmission system operator, CGES, reported a net profit of 24.8 million euros in 2024, marking a decline from the previous year’s net profit of 35.7 million euros. The company’s net sales for the year amounted to 97.7 million euros, a 9.9% decrease compared to 2023. Despite the drop in revenue, operating expenses were

Montenegro: Offshore wind potential estimated at 2.3 GW Read More »

Montenegro: Offshore wind potential estimated at 2.3 GW

A Study on the Resource Viability of Offshore Wind Energy in Montenegro, authored by Miloš Bogdanovic and Špiro Ivoševic at the Faculty of Maritime Studies, University of Montenegro, suggests the country has potential for more than 2.2 GW of offshore wind. The authors of the study investigated areas in the Adriatic suitable for the construction of offshore windfarms. Seven

Montenegro: EPCG to launch construction of the Gvozd wind farm in July Read More »

Montenegro: EPCG to launch construction of the Gvozd wind farm in July

The Montenegro Power Utility (EPCG) is set to kick off construction of the Gvozd wind farm in July, with plans also in motion for Gvozd 2, a 30-megawatt (MW) expansion, as announced by Milutin Đukanović, the president of the Board of Directors of the state-owned power company. “Based on our projections, construction was slated to commence a year ago. Unfortunately,

Montenegro to reach carbon neutrality by 2050 Read More »

Montenegro to reach carbon neutrality by 2050

Montenegro’s goal is to reduce greenhouse gas emissions by 55% by 2030 at the latest, and that its long-term objective is to achieve carbon neutrality by 2050, Minister of Energy and Mining Saša Mujović said at Belgrade Energy Forum. He estimated that Montenegro is on track to get 200 MW of new renewable energy capacity through several projects.