Montenegro: Masdar and EPCG move to execution of Štedim and Krupac solar projects
On 28 July 2026, Masdar and Montenegro's national power utility Elektroprivreda Crne Gore (EPCG) signed joint development agreements covering two solar photovoltaic projects with a combined capacity of 150 MW: Štedim (115 MW) and Krupac (35 MW). These are the first projects to be progressed through the 50/50 joint venture to be established after the Joint Venture Agreement signed in April 2026; the JV targets up to 2 GW of renewable energy capacity in Montenegro. A framework for action agreement was also signed to explore joint development of over 400 MW of pumped hydro energy storage. The agreements were signed in Tivat in the presence of HE Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, and HE Admir Šahmanović, Montenegro Minister of Energy and Mining.
Masdar and EPCG signed joint development agreements for two solar projects totalling 150 MW — Štedim (115 MW) and Krupac (35 MW) — under the 50/50 joint venture to be established after the April 2026 agreement; a framework for action agreement was also signed to explore over 400 MW of pumped hydro energy storage.
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Masdar and EPCG signed joint development agreements for two solar projects totalling 150 MW — Štedim (115 MW) and Krupac (35 MW) — under the 50/50 joint venture to be established after the April 2026 agreement; a framework for action agreement was also signed to explore over 400 MW of pumped hydro energy storage.
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