Montenegro is keen to cooperate with Azerbaijan in renewable energy sector

The Ministry of Energy hosted the meeting with the delegation of Montenegro’s “Adriatic Capital” company. The purpose of the meeting was to discuss cooperation opportunities with the Adriatic Capital in renewable energy sector. 

Marco Vujović, Executive Director of the Adriatic Capital spoke about the current state of the alternative and renewable energy sector in Montenegro, the company's activities in this area, and projects which the company participates in. Vujović mentioned that the company has provided design, funding, construction and maintenance services and participated in the construction of wind, water and solar power stations in Serbia, Bosnia and Herzegovina. He also emphasized that his company has conducted an inspection of Azerbaijan regions with high renewable energy potential, and expressed interest in participating in projects on the use of solar and wind energy. 

Deputy Minister of Energy Elnur Soltanov spoke about the solar and wind power plants operating in the country. He also noted the actions taken to assess existing potential and investment opportunities for the development of renewable energy sources, particularly wind and solar power, legislative documents drafted on renewable energy and energy efficiency, cooperation with various companies and financial institutions and activities to improve investment enabling environment in this field. 

The meeting was followed by discussion on continuing further negotiations to sign memorandum of understanding with the Ministry of Energy on the development of the renewable energy sector and identify opportunities for future cooperation.