The Ministry of Capital Investments in Montenegro says it will take technical support of the European Bank for Reconstruction and Development (EBRD) to design and implement an auction framework for renewable energy sources and launch a comprehensive program to increase the share of solar and wind in its energy mix.
To be specific the said program, according to the ministry, will seek to revise the legislation to clarify the framework for competitive procurement of renewable energy.
Projects thus contracted will be supported through a market-based scheme that will enable to the addition of new production capacities at competitive prices. With these measures Montenegro will be able to exploit the potential of its solar and wind resources and diversify its electricity mix while moving ahead sustainably.
"It is planned that the law will establish a broad framework for the processes of continuous bidding for renewable electricity and define the rules for providing support to renewable energy projects," stated the ministry. "Also, the law will specify the transition mechanisms that will be in force until the establishment of the market a day in advance."
This update from the Montenegro government is good news for renewables and for the nation's energy reliability in the future after it announced the decision to not encourage construction of new renewable energy facilities having achieved 33% renewables target in the total energy consumption, back in December 2021 (see Montenegro To Pull Back Support For Renewable Energy?).