Investments in Renewable Energies

A predictable business environment

A business friendly environment and a functioning and stable legislative are the two key aspects for international investments

The Montenegrin macroeconomic system is characterised by many indicators reflecting these key aspects, i.e.

an existing stable economic growth with a realistic forecast up to 2025 (~6%/a),

a low inflation rate and a continuous reduction of unemployment, the “construction” of an open and competitive market under

harmonizing the local legislation with the EU regulations

In case of the envisaged energy development of MNE this growth-approach is documented in a clear framework. The white book on the “Energy Development Strategy of MNE by 2025”

MNE Hydro potentials for energy utilization

Compared to its surface, MNE has extremely rich water resources; water is the MNE's key resource of highest strategic interest

From its total hydro potential MNE is exploiting just 17% (1,8 TWh); at least another 5 TWh are still technically useable

Import of Electricity amounted one year ago 1,8 TWh – in the future, this dependency will tendentiously increase rapidly

Under the consideration of the preservation of the natural heritage of MNE there is a vital need for wise and rational investments in HPPs of each size

Major business areas of our company

Electricity - our largest field of business

67 power stations with an installed capacity of about 500 MW generating about 1 TWhel/a

Additional energy purchase rights primarily from common HPPs with AHP amounting to 1,5 TWhel/a

core competence: electricity from storage and pumped storage HPPs as well as run-of-river HPPs

Heat - operated by our affiliate

48 distance heating plants and 575 central heating stations sales of around 0,7 TWhth/a

leading supra-regional heating supplier in Austria core competence: heat from renewable energy sources, as they are

i.e. biomass, geothermal or waste heat

If you would like to receive our consolidated annual report,

please contact office@kelag.at or visit our homepage www.kelag.at

KELAG is represented in Montenegro by

Dr. Rodoljub Nikolic

niroshimontenegro@cg.yu

Thomas-M.MaierDirector MNE activities

thomas-michael.maier@kelag.at

Tel.: +43 676 87801165

Thank you very much for your attention!