Minister Sekulić in London: Energy development should be based on use of renewable energy sources by market principles

Montenegro is determined not only to meet its national target of 33% of final energy consumption from renewable sources, but also to build its further energy development on the basis of the use of renewable energy sources along with market principles, Minister of Economy Dragica Sekulić said.

She participated today in the panel "Sustainable Energy Model of the Region" organized under the Western Balkans Investment Summit, organized by the European Bank for Reconstruction and Development (EBRD) in London.

While presenting in the panel, Minister Sekulić pointed out that Montenegro has repeatedly shown readiness and determination to provide support to foreign investors who want to invest in Montenegrin energy. The latest example is more than a successful co-operation with the French company Akuo Energy on the wind farm Krnovo project. This project, in addition to all the challenges that every new approach initially brings, is an example of successful cooperation between the Government of Montenegro and the private sector, in this case the Akuo Energy company. In order to implement big and successful projects, the understanding of the both sides is necessary, as well as to find common solutions.

Minister Sekulić pointed out that the satisfaction of the investor who successfully implements the project is the best promotion of investment climate in one country. That is why, as she said, it is necessary to have special sensitivity when foreign investors are concerned.

At the same time, she added, Montenegro is working intensively on strengthening cooperation with its neighbours and integration into the European energy market.

She reminded that the origin of the European Union we know today comes from energy cooperation. Montenegro, giving its concrete contribution to the construction of the Trans-Balkan Corridor, and the construction of the Ionian-Adriatic Pipeline (IAP), shows its determination to develop as an energy hub, not for the purpose of being different, but to be a good example of cooperation and connectivity. We will have the first results by the end of this year, when we expect the start of the most powerful power connection in the region – the submarine cable.

According to the latest data from the Energy Community in November 2017, Montenegro had the best results of the overall implementation of soft policy measures (regional electricity market, establishment of a wholesale organized market, cross-border balancing and regional allocation of capacity between the WB6 countries), which, as it was stated, shows our readiness to apply EU standards and continue our activities in order to strengthen regional cooperation.

All countries of the Western Balkans, as Minister Sekulić assessed, aspire to achieve regional market integration and so far have achieved positive results in this respect, which must be followed by an adequate legal framework.

Responding to the question of the future of coal use, Minister Sekulić said that a responsible approach to the use of this resource implies options for its use together with other cleaner fuels such as biomass. Parallel to the ecological reconstruction of the Pljevlja thermal power plant, Montenegro is seriously considering all sustainable solutions in this area.

The panel was attended by Macedonian Deputy Prime Minister Kocho Angjushev, Executive Director of Akuo Energy Eric Scotto, Director of the Energy Community Secretariat Janez Kopač, and Director of the Trans Adriatic Pipeline Luca Schieppati.

VIDEO: https://www.youtube.com/watch?v=1FX4MeNAOJc&feature=youtu.be