Alcazar Energy, an international company in the renewable energy sector, intends to increase its investments in Montenegro from $200 million to $500 million. This was stated by the company’s co-founder and executive partner, Daniel Calderon.
The company is already cooperating with the Montenegrin government: at the EU – Montenegro investment conference, memorandums were signed on the implementation of projects in energy and sustainable development. Alcazar Energy recently began construction of the largest wind farm in the Balkans in North Macedonia.
Construction of the Bijela wind farm with a capacity of 118.8 MW begins
Daniel Calderon told Balkan Green Energy News that construction of the wind farm “Bijela” (Bijela) with a capacity of 118.8 MW will begin in the first quarter of next year. The investment in the project is estimated at $200 million.
“We are putting the land plots in order, carrying out procurement, this is a large-scale project,” Calderon noted, emphasizing that this is the first part of Alcazar Energy’s investment in Montenegro.
Investments could grow to $500 million
According to the memorandum signed with the Government of Montenegro, Alcazar Energy plans to expand its investment volume to $500 million, believing that the country creates a favorable and safe climate for foreign investment.
The company sees potential to increase investments to $500 million over the next five years.
“We assume that by 2040, $4–5 billion will be invested in renewable energy in Montenegro, and we would like Alcazar to be part of this process. Our investments will amount to about 10% of that sum and will be the first in large-scale development,” Calderon added.