Montenegro Greenlights Two Major Solar Projects

• Montenegro giving green light to two major solar power projects with investment of EUR 200 million. Generating 219.9 GWh of electricity annually, the projects could help meet the country's renewable energy targets. VAT on solar panels reduced to attract investments.

The Government of Montenegro has given the go ahead for two major solar power projects. The first is a 240 MW solar power plant in Nikšić, and the other is for the Vuča agrisolar park in Rožaje with a connection capacity of 123.6 MW. The estimated investment for both projects is over EUR 200 million. These projects have obtained all the necessary opinions from relevant authorities, such as environmental protection, agriculture, forestry, cultural heritage protection, and connections to infrastructure. Furthermore, Montenegro has reduced the value-added tax on the sale, installation, and imports of solar panels to attract investments. The two projects are expected to generate 219.9 GWh of electricity annually and contribute to Montenegro's renewable energy targets.

Is Montenegro Investing in Solar Energy?

• The Government of Montenegro has taken a strong stance towards investing in renewable energy sources, such as solar power, in order to reduce its dependence on fossil fuels.
• The two solar power projects are expected to create around 300 jobs during construction and 40 permanent jobs once in operation.
• The investments in these two solar projects will also provide long-term economic benefits to the Montenegrin economy through reduced energy imports.
• Montenegro has also taken steps to reduce the cost of installation of solar panels, with a reduction in the value-added tax on sale, installation and imports of solar panels.
• The projects are expected to generate 219.9 GWh of electricity annually, which is equivalent to the power needs of around 20,000 households.
• The projects are expected to contribute significantly to Montenegro's renewable energy targets and help the country transition to a more sustainable energy portfolio.