Montenegro has launched a new Renewable Energy Sources (RES) Association to boost investment and cooperation in the country’s growing green energy sector, the European Bank for Reconstruction and Development (EBRD) announced. The initiative, backed by the EBRD and the European Union (EU), brings together existing and potential investors to accelerate Montenegro’s transition toward cleaner, more sustainable energy.
The association—set up by three leading developers, Alcazar Energy, Qair Group, and Simes—will serve as a collective platform for renewable energy companies. Its goals include promoting public-private dialogue, shaping a transparent and predictable regulatory environment, and supporting investors seeking to navigate complex procedures related to grid access, taxation, and environmental standards.
“The launch of this association follows major improvements in Montenegro’s renewable energy framework, including the new law on renewable energy and the introduction of competitive auctions,” said Remon Zakaria, EBRD Head of Montenegro. “These reforms, supported by the EU and other partners, are creating strong momentum for investment across the sector.”
Energy Minister Admir Šahmanović said the initiative underscores Montenegro’s readiness to attract strategic investors.
“Energy is at the heart of today’s political and economic transformation. The creation of the RES Association sends a powerful message that Montenegro is serious about building partnerships to realize its renewable energy potential,” he said.
Marko Radulović, President of RES Montenegro and General Manager of Alcazar Energy, added: “The question is no longer if Montenegro will transition to clean energy, but how fast. This platform unites credible investors committed to working with government and communities to deliver tangible results.”
The EU Delegation’s Head of Cooperation, Bernard Brunet, praised the association as a crucial step in advancing Montenegro’s EU Reform Agenda and its goal to align with the EU electricity market. The RES Association’s initial operations are financed by the EU and aligned with the country’s three-year auction plan to add at least 400 MW of new renewable capacity by 2027, marking an important milestone in Montenegro’s pathway toward a sustainable energy future.
