Šahmanović: Masdar ready for new investments in Montenegro’s energy sector

Montenegrin Minister of Energy and Mining Admir Šahmanović has met with Mohamed Jamel al-Ramahi, CEO of Masdar, a United Arab Emirates state-owned renewable energy company. During the meeting in Abu Dhabi, Šahmanović highlighted the energy sector as Montenegro’s biggest development opportunity, while Masdar’s top man confirmed the company’s readiness to expand its operations in Southeast Europe.

As part of his visit to the United Arab Emirates (UAE), Minister Admir Šahmanović held talks with representatives of Masdar, one of the global leaders in renewable energy.

“Montenegro undeniably has the potential and natural resources, but we are equally aware of our financial limitations. Investments in capital energy infrastructure projects are measured in hundreds of millions of euros, which requires strong partnerships and the pooling of resources,” Šahmanović said at the meeting.

Šahmanović: Energy is Montenegro’s greatest development opportunity

According to him, Montenegro sees the energy sector as the greatest development opportunity, which can trigger economic growth, create new jobs, and ensure long-term stability.

“To achieve this, we choose strategic partners carefully – those who share our vision and are ready to invest in a sustainable and strong energy sector,” he said.

The Montenegrin minister and Masdar representatives discussed opportunities to further strengthen cooperation and develop new projects. Šahmanović stressed that cooperation with Masdar so far – on the Krnovo wind farm – provides a solid foundation for even more ambitious projects.

Masdar is looking to expand its business in Eastern Europe

Masdar’s CEO confirmed that the company has the capital, know-how, and interest for significant business expansion in Eastern Europe, with Montenegro taking priority in its investment plans.

Šahmanović emphasized that the Government of Montenegro is committed to creating a favorable business environment – through clear procedures, a stable regulatory framework, and more efficient administration – to ensure security and predictability for investors.

That, he noted, is not only a prerequisite for attracting new investments but also a guarantee that the energy sector will become a pillar of the country’s economic growth and energy independence.