Prime Minister meets with EDF CEO: Strategic cooperation for clean, stable, and affordable energy, with export and economic development potential for Montenegro

Montenegro’s strategic partnership with EDF, one of Europe’s largest energy companies, presents a significant opportunity to secure clean, stable, and affordable electricity for its citizens, while also creating a strong export product. This was the key takeaway from the meeting between Prime Minister Milojko Spajić and EDF CEO Luc Rémont during the World Economic Forum in Davos.

In September, Montenegro’s power utility company EPCG signed a Memorandum of Cooperation with EDF. During today’s meeting, it was decided to involve the Italian company Edison, part of the EDF Group, in the development of energy projects aimed at further advancing Montenegro’s energy system. Edison brings extensive expertise in utilizing hydroelectric potential.

Energy from nuclear and hydroelectric plants is extremely important as it forms the foundation for a stable energy grid and affordable electricity production. This ensures energy security for all European citizens and reduces dependence on other energy sources, Rémont emphasized.

Prime Minister Spajić highlighted the immense potential for Montenegro’s economic growth, given the country’s abundant and environmentally friendly hydroelectric resources.

The construction of new energy production capacities will enable a stable electricity supply, support the green transition we are striving for, and provide additional benefits for our citizens through electricity exports. This is especially crucial with the planned doubling of the capacity of the undersea cable connecting us with Italy by the end of 2027. It is vital for us to enter this process with credible companies, as such strategic partnerships were lacking in the past, Prime Minister Spajić stated.

The meeting underscored the shared interest in collaborating on energy transition and the development of new hydropower plants.