One of the key drivers behind the growth of Montenegro’s energy market is the country’s commitment to reducing its dependence on fossil fuels and increasing the share of renewable energy in its energy mix.
Montenegro has set an ambitious target of generating 33% of its electricity from renewable sources by 2020. This progressive plan is in line with the European Union’s renewable energy directive. And it has already led to a surge in investment in renewable energy projects in Montenegro.
Energy Community role model
Although not an EU member state yet, Montenegro has been promoted as a membership candidate that has opened all negotiation chapters.
Particularly in the energy sector, Montenegro has been a role model in the Balkans for the last ten years. Montenegro servs as an example of how a diligent transposition of EU energy policies and rules can not only be good for the accession process itself, but can also support development.
In that sense, an investor dealing with projects in any of the EU member states, should not face a significantly different environment in Montenegro. This stands especially when it comes to Energy law and accompanying rules and practices.