Nu Energy and Nu Energy and Investment plan to invest approximately €50 million in a solar and battery development near Cetinje, as part of an expansion of their renewable portfolio in Montenegro. The project is described as being located in the area around Cetinje.
Velestovo solar plant and battery configuration
The Velestovo project would combine a 50 MW solar plant with a 50 MW/100 MWh battery system. The battery setup is intended to provide two hours of storage at full rated output.
Storage would enable Velestovo to retain part of its solar production and release it later. This is expected to reduce dependence on selling all electricity during daylight hours.
Grid connection progress with CGES
A US-Turkish developer has secured a connection agreement with transmission operator CGES. The agreement advances a key requirement for bringing the project onto the network.
The commercial value of the battery component would depend on the difference between charging and discharge prices. It would also be influenced by the terms governing grid access and market participation.
Nu Energy’s existing and planned Montenegro pipeline
Nu Energy already operates solar plants in Tuzi and Župa. The company is also preparing another development at Bogetići.
The overall Montenegrin project portfolio is valued at more than €100 million. The scale of the planned Velestovo work aligns with that broader pipeline, which includes both operating assets and new developments.
