Prime Minister meets with representatives of Masdar, UAE’s state-owned renewable energy company: Montenegro – A highly attractive destination for renewable energy investments

Strengthening cooperation with Masdar, a global leader in renewable energy, presents a remarkable opportunity for Montenegro to accelerate its energy transition and establish itself as a regional leader in sustainable energy.

This was the key conclusion of the meeting between Prime Minister Milojko Spajić and representatives of Masdar, the United Arab Emirates' state-owned renewable energy company and one of the world’s fastest-growing clean energy firms. The Masdar delegation was led by CEO Mohamed Jameel Al Ramahi and included senior executives Abdulla Zayed, Amine El Hamzaoui, Ali Alshimmari, and Omar Al Teneiji.

Prime Minister Spajić highlighted Montenegro’s vast renewable energy resources and its ambitious decarbonization targets, emphasizing that the country is open to investments in the renewable energy sector. He noted that Montenegro’s new regulatory framework creates an investor-friendly environment and enables faster and more efficient project implementation.

In line with the Energy Community’s targets, Montenegro is committed to achieving a 50% share of renewable energy in total final consumption by 2030. We anticipate new investments, and our updated legislation will ensure maximum utilization of available resources while reducing electricity production costs, said Prime Minister Spajić.

He further emphasized that these advancements will contribute to the diversification of Montenegro’s energy sector and drive overall economic growth.

Masdar’s CEO, Mohamed Jameel Al Ramahi, commended Montenegro’s supportive legislative framework and recognized the country’s potential for energy distribution via its undersea cable, particularly with the planned expansion of this critical infrastructure.

Both parties agreed on the need to enhance cooperation through the exchange of information on potential projects in Montenegro, where Masdar has expressed a strong interest in further engagement.

Masdar representatives reaffirmed the company’s pioneering role in advancing clean energy and its commitment to supporting the UAE’s vision of global leadership in renewable energy. With projects spanning over 40 countries across six continents, Masdar continues to drive innovation in solar power, wind energy, energy storage, waste-to-energy conversion, and geothermal energy.

In Montenegro, Masdar Energy B.V., a Netherlands-based company founded by Masdar in Abu Dhabi, is a co-owner of the Krnovo wind farm. This wind farm supplies electricity to approximately 45,000 households and offsets around 80,000 tons of carbon emissions annually. It is estimated to generate 200 gigawatt-hours of electricity per year.