3 FAQs about Investment in Montenegro Energy Storage Project
Why is Montenegro investing in oil and gas?
Montenegro invited international oil and gas companies to bid on licenses to explore its offshore coast based on the seismic data which showed favorable conditions for hydrocarbon deposits. In late 2013, this investment in oil and gas took place.
Why should you invest in Montenegro?
Montenegro is one of the smallest countries in Europe, yet at the same time one of the most welcoming for entrepreneurs and a destination of choice for investors. CMS presence here stretches back to 2012 and the 2-person legal team in our Podgorica office supports locally-established companies and also international investors.
How much is EPCG investing in battery energy storage systems?
The utility is procuring two grid-scale battery storage systems to the tune of EUR 48 million ($55.9 million). EPCG, Montenegro’s largest electricity provider, is investing in two four-hour battery energy storage systems (BESS) to strengthen grid resilience and balance supply and demand.