Velestovo solar project worth EUR 50 million under development in Cetinje – Power plant of 50 MWp and 100 MWh battery storage planned

The company Nu Energy and Investment plans to build the Velestovo solar power plant in Cetinje, with an estimated value of EUR 50 million. The project involves a planned installed capacity of 50 MWp and includes a battery energy storage system (BESS) with a capacity of 50 MW/100 MWh.

According to a statement from the Old Royal Capital Cetinje, Mayor Nikola Djuraskovic met with company representatives led by CEO Erkut Alkaya to discuss the project’s implementation timeline, technical specifications, and opportunities for cooperation with the local self-government in future phases.

– Integrating the battery system will enable more efficient management of the generated electricity and contribute to a more stable integration of renewable sources into the power grid – the statement says.

Nu Energy and Investment has already signed an agreement with the Montenegrin Electric Transmission System (CGES) to connect the Velestovo solar power plant to the transmission grid.

– The meeting highlighted the importance of continuous communication between the investor and the local government, particularly regarding timely updates on project development, planned activities, and subsequent implementation phases – the Old Royal Capital stated.

Discussions also covered Cetinje’s potential for developing renewable energy projects, as well as the importance of private investment for Montenegro’s energy and economic development.

Nu Energy and Investment is a US-Turkish energy and engineering company based in Montenegro that is developing an investment portfolio valued at over EUR 100 million. The company currently operates two solar power plants, in Tuzi and Zupa, while the Bogetici solar power plant is in the pre-construction phase, and the Velestovo project is in the development stage.

Nu Energy and Investment

Montenegrin Electric Transmission System

CGES

Old Royal Capital Cetinje

Nikola Đurašković

Erkut Alkaya

solar power plant Velestovo

Velestovo

battery energy storage system

BESS

solar power plant Bogetići