Montenegro's Cabinet approves Energy Development Strategy by 2030

Podgorica, Montenegro (10 July 2014) – At today’s sitting, Montenegro’s Cabinet endorsed the Energy Development Strategy by 2030.

The strategy deals with all energy sub-sectors such as coal, oil and gas, electricity, district heating, energy efficiency, renewable energy, etc. It also provides for the implementation of energy projects such as the Block II of the Thermo Power Plant Pljevlja, hydro power plants on the rivers Morača and Komarnica, submarine energy cable between Montenegro and Italy, Adriatic-Ionian Pipeline, small hydro power and wind power plants, Deputy Economy Minister Miodrag Čanović told the press following the Cabinet’s meeting.

By 2021, the strategy envisages investments amounting to more than EUR 3 billion, while the investments for the period 2022- 2030 are projected at EUR 1.1 billion, meaning that EUR 280-300 million should be invested annually in the energy sector in Montenegro, which makes 10% of the country’s GDP, Deputy Economy Minister Čanović concluded.