Podgorica, (MINA-BUSINESS) – According to Minister of Energy and Mining Admir Sahmanovic, the launch of the auction process will pave the way to new investments worth hundreds of millions of euros, creating conditions for the accelerated development of the energy sector, the creation of new jobs, and strengthening Montenegro’s energy independence.

Responding to a question about what exactly the auction model introduced by the Ministry brings, Sahmanovic said it marked a turning point.

“For the first time, we are introducing a market-based, fair, and transparent system of support for renewable energy projects. By launching the auction process, we are building a modern energy architecture where the best projects win because they offer the most favourable conditions for citizens and the state,” Sahmanovic said in an interview with Mina-business agency.

On Friday, the Ministry of Energy and Mining launched a public call for awarding market premiums for renewable energy projects, officially opening the first auction process in the history of Montenegro’s energy sector.

This important phase followed the Government’s adoption on Thursday of the tender dossier and a set of supporting documents, fulfilling all regulatory preconditions for launching this strategically important mechanism.