In November 2020, OeEB signed a bilateral credit line of EUR 15 million with D. O. O. Hidroenergija Montenegro – Berane, Montenegro. The purpose of the financing is the development and construction of small hydroelectric power plants in Montenegro as well as supplier financing and the allocation of intermediate loans.
|Project name||D.O.O. Hidroenergija Montenegro|
|Sector||Energy / Resource efficiency / Infrastructure|
|OeEB project volume||EUR 15 million|
|Projekt partner(s)||D.O.O. Hidroenergija Montenegro|
Montenegro holds great potential in tourism and the energy sector. Since 2007, the small state has been part of the international Energy Community organization, which is intended to create a pan-European energy market on the part of the EU and partner countries, and is thus obliged to adapt national provisions to EU directives in the energy sector.
The objective of the financing is to support the development of renewable energy resources in Montenegro and thereby contributing not only to environmental sustainability but also to securing energy supply and the further economic development of the state.
Hidroenergija Montenegro was founded in 2007 and is the largest private hydropower plant operator in Montenegro. The company shows a high level of social and community involvement, especially in the regions where the power plants are located. For example, the required security personnel are recruited locally, local clubs, events and activities are sponsored and the local infrastructure is improved.