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 announced 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 for the implementation of projects in energy and sustainable development.Alcazar Energy recently began construction of the largest wind power plant in the Balkans in North Macedonia.
Start of construction of the 118.8 MW Bijela wind farmDaniel Calderon told Balkan Green Energy News that construction of the“Bijela”(Bijela)wind farm with a capacity of 118.8 MW will begin in the first quarter of next year. The project investment is estimated at
$200 million.Investments could rise to $500 millionAccording to the memorandum signed with the Government of Montenegro, Alcazar Energyplans to expandits 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.New projects in Montenegro
When asked about new projects in the country, Calderon noted that the company is considering several initiatives, but is not yet disclosing details.He also spoke at the panel discussion
“Renewable Energy Sources: Accelerating Montenegro’s Energy Transformation”, organized as part of the EU–Montenegro conference.During the conference,
14 joint projectswere initiated between Montenegrin and European companies, half of which are related to wind and solar power plants, energy storage systems, and grid infrastructure.