As part of the EU–Montenegro Investment Conference “Smart Growth, Green Future: Accelerating Investment in Montenegro” held from October 13–15 at The Chedi Hotel, Luštica Bay, the Montenegrin Investment Agency (MIA) and CWP Europe signed a Joint Declaration of Support for the development of the Montechevo Solar Power Plant and Battery Energy Storage System (BESS) project in Montenegro.
The Memorandum was signed by Mirjana Kojić, Acting Director of the Montenegrin Investment Agency, and Maja Turković, Executive Vice President of CWP Europe.
CWP Europe plans to implement an investment worth over €1.1 billion, which includes the construction of the 400 MW Montechevo Solar Power Plant and an accompanying battery energy storage system in Montenegro.
The goal of this cooperation is to support the development of solar energy projects and electricity storage systems in Montenegro, through the application of advanced technologies and European standards in the field of renewable energy.
CWP Europe is one of the leading clean energy companies in the region, with extensive experience in developing solar and wind energy projects across the Western Balkans and the European Union.
The Montechevo Project will integrate solar energy production with a large-scale battery storage facility directly connected to Montenegro’s new 400 kV transmission infrastructure, maximizing the use of the country’s strategic interconnections — including the high-voltage submarine (HVDC) cable to Italy.
“By signing this memorandum, Montenegro reaffirms its openness to strategic investments that connect the energy sector with the green transition. The Montenegrin Investment Agency plays a key role in providing institutional support to investors and in linking domestic and international partners,” said Mirjana Kojić, Acting Director of the Agency.
The partnership with CWP Europe contributes to the goals of the Accelerating Investment in Montenegro (AIM) project, implemented by the Agency with the support of the European Union, aimed at attracting high value-added investments and strengthening Montenegro’s green and digital economy.
Projects arising from this partnership will be aligned with EU Green Deal policies and Montenegro’s energy transition plan, further reinforcing the country’s position as a regional leader in renewable energy.