Podgorica, (MINA-BUSINESS) – Minister of Energy and Mining Admir Sahmanovic has announced that Montenegro is entering a new investment cycle in the energy sector, adding that there is genuine potential for the involvement of international partners.
“Recent developments in Europe, as well as Montenegro’s own experiences, highlight the seriousness of the situation. Energy security is no longer a matter of long-term vision but an urgent necessity. Therefore, every day without concrete action on modernizing and building new energy infrastructure presents an additional risk to the economy and citizens,” said Sahmanovic at a meeting with Slovak Ambassador to Montenegro Boris Gandel.
Gandel expressed the interest of Slovak companies in investing in the energy sector and emphasized Slovakia’s readiness to contribute to its development in Montenegro through both expert and investment cooperation. Sahmanovic welcomed this interest.
According to a press release from the Ministry, Sahmanovic noted that the experiences, mistakes, and challenges faced by EU member states were of great importance to Montenegro and the Western Balkans, as they offered valuable guidance in planning and implementing the green transition.
“While EU member states have built this process over more than two decades with far more stable public finances, Montenegro and the Western Balkans are facing the challenge of achieving the ambitious goals of the Green Agenda in a much shorter timeframe. That is an additional reason for us to act faster, more decisively, and more wisely,” Sahmanovic stated.
He noted that Montenegro was a reliable and valuable partner to European institutions, particularly the Energy Community, adding that it was committed to aligning its legislation with EU standards while simultaneously developing concrete projects.
“The period ahead will be even more dynamic. With new legislative solutions, we are introducing mechanisms to attract serious investors, with a clear focus on renewable energy sources. The modernization of the transmission and distribution networks, along with the construction of new capacities, is an absolute priority,” Sahmanovic concluded.
