Montenegro’s Jugopetrol planning production of electricity from renewable sources

The oil company Jugopetrol is planning to expand its energy portfolio and test the potential of Montenegro in the field of production of electricity from renewable sources of energy (RES).

– This is the area we’re interested in investing in – stated Adonis Semelides, CEO of the company, which previously announced that it was planning to transform from an oil company into an energy company.

Semelides said that Jugopetrol wanted to be a part of a wider energy sector of Montenegro and to play an important role in it.

He reminded that the majority owner of Jugopetrol, Greece’s Hellenic Petroleum, founded the company Hellenic Petroleum Renewable Energy Sources in 2006, which predominantly invests in wind farms, hydro power plants, solar and biomass power plants in Greece.

– We believe that Montenegro has a considerable potential for growth in the entire energy sector, especially when it comes to the production of electrical energy from RES. Our plan is to be active this year and to test this potential, possibly through cooperation with other local companies – he announced.

Jugopetrol ad Podgorica

Hellenic Petroleum Athens

production of electrical energy

electrical energy

renewable sources of energy

RES

Adonis Semelides

Hellenic Petroleum Renewable Energy Sources

Hellenic Petroleum