Green investments "take off" in Montenegro - Up to $500 million for renewable energy
Alcazar Energy has announced its intention to increase its investments in Montenegro from $200 million to $500 million.
This company is one of several with which Montenegro has signed memoranda of understanding for projects in the energy sector. Most recently, Alcazar has begun construction of the largest wind farm in the Western Balkans, located in North Macedonia.
Meanwhile, construction of the Bijela wind farm in Montenegro is scheduled to begin in the first quarter of 2026. This 118.8 MW capacity plant is expected to represent an investment of around $200 million.
Currently, the company is preparing the ground and developing the procurement processes for this major project, which constitutes the first phase of Alcazar's investment in Montenegro.
Recently, Alcazar signed a new memorandum of understanding with the Government of Montenegro to expand the value of investments to $500 million. The company estimates that by 2040, investments in renewable energy sources in the country could reach $4–5 billion, and it aims to be part of this development, representing about 10% of the total projects.
At the EU-Montenegro Investment Conference, a total of 14 joint projects between Montenegrin and European companies were launched, including investments in wind farms, solar plants and transmission networks.
Alcazar plays an important role in the development of the renewable energy sector in the Middle East, North Africa, Turkey, as well as in the Balkans, through projects in Montenegro, Serbia and North Macedonia.
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