Montenegro Launches First Solar Auction, Targets 250 MW

• Montenegro launches its first renewable energy auction, targeting 250 MW solar power, backed by EBRD and EU, marking a pivotal shift towards sustainable energy.

Montenegro's Ministry of Energy and Mining has initiated its first renewable energy auction, aiming to generate 250 MW of solar power. The auction, supported by the European Bank for Reconstruction and Development (EBRD), marks a significant move towards a market-based renewable energy sector. Interested parties must submit bids by November 10, 2025.

The auction is part of the EBRD's Renewable Energy Market Accelerator (REMA) program, with financial backing from Austria, Italy, and the EU. This initiative follows new renewable legislation enacted last summer, aiming to leverage Montenegro's solar and wind resources to enhance energy security and transition goals.

What are the key details of Montenegro's first renewable energy auction?

• The auction is designed to attract both domestic and international investors to participate in Montenegro's renewable energy sector.
• It aims to diversify Montenegro's energy mix and reduce reliance on fossil fuels.
  
• The auction process will be competitive, with bids evaluated based on price and project feasibility.
  
• Successful projects will receive long-term power purchase agreements to ensure financial viability.
  
• The initiative is expected to create jobs and stimulate economic growth in the renewable energy sector.
  
• The auction supports Montenegro's commitment to the EU's climate and energy targets.
  
• It is part of a broader strategy to increase the share of renewables in Montenegro's energy consumption.
  
• The auction will focus on solar power but may include provisions for other renewable sources in future rounds.
  
• The EBRD's involvement provides technical and financial expertise to ensure the auction's success.
• The initiative aligns with Montenegro's National Energy and Climate Plan, which outlines goals for 2030.