Voli supermarket chain goes solar

The European Bank for Reconstruction and Development today signed a four million euro loan agreement in Podgorica with Voli, Montenegro’s largest retail chain. Original news: https://www.cdm.me/ekonomija/voli-prelazi-na-solarne-izvore-energije-uz-pomoc-ebrd-finansiranja/

Voli is using these funds to purchase and install solar panels with a capacity of up to 4 MW and charging stations for electric vehicles at its facilities and logistics centers. Funding for the feasibility study for this project was supported by donations from the Austrian DRIVE Foundation. Voli protects itself against potential future volatility in energy prices, which remains a hot topic after European economies felt the effects of changing energy prices as a result of Russia’s invasion of Ukraine. There will also be significant reductions in CO2 emissions. The ability to charge electric cars in these locations will make Voli more attractive to customers and tourists.

Remon Zakaria, Head of EBRD Montenegro, said on the occasion, “Green energy and energy security is our priority both in the region and in Montenegro. Our long-term client Voli has made another great decision to supply their modern retail facilities with their own solar power, helping to decarbonize their business and secure their energy supply for the next decades.”

Milan Zhdrali, EBRD Regional Head of Agriculture for Southeast Europe, added: “I am very pleased that the EBRD continues to work with its long-term partner Voli through this green investment. The project will support the company’s energy efficiency in today’s troubled energy market. At the same time, it will help reduce harmful gas emissions and have an impact on improving overall competitiveness.

“Voli’s plans include further developing energy efficiency projects and investing in building solar panels to reduce pollution and protect the environment by reducing carbon emissions. Our responsibility to the community in which we develop includes taking into account matters of general interest and thinking about the future of our society and our children. That’s why we support innovative solutions to make the world around us a healthier and better place to live,” said Dragan Bokan, chairman of Voli.

Voli is the leading retail chain in Montenegro and the largest employer with more than 2,000 employees. The company was founded in 1995 and began cooperating with the EBRD back in 2009. The bank has also been a minority shareholder in Voli since 2015.

The EBRD has invested 725 million euros in Montenegro so far.