Montenegrin firm Nu Energy and Investment said it has signed a memorandum of understanding with China's Cospowers Technology to cooperate on battery energy storage systems (BESS) for solar projects in the Western Balkans.

"This strategic partnership is a crucial step toward Nu Energy’s goal of reaching 500 MW in renewable energy capacity. As part of its long-term investment strategy, Nu Energy will implement Cospowers’ cutting-edge battery storage technology to ensure reliable and uninterrupted clean energy supply across the Balkans," the Montenegrin company said in a statement posted on LinkedIn.

The agreement was signed last week in Changde, China, by Nu Energy's CEO Erkut Alkaya and Cospowers' CEO, Shan Hui, the statement read.

"With Nu Energy’s vision and our expertise in battery technology, we are creating a powerful synergy that will revolutionize clean energy in the Western Balkans. This partnership is a milestone in the region’s transition to sustainable energy," Hui was quoted as saying in the statement.

Under its terms of the deal, Nu Energy will serve as the Engineering, Procurement, and Construction (EPC) partner for energy storage projects, implementing Cospowers’ BESS technology to enable 24/7 clean energy availability. In addition, both companies will collaborate on feasibility studies, pilot projects, and technical demonstrations to drive innovation in the renewable energy sector.

Last month, Montenegro's state-owned power utility Elektroprivreda Crne Gore (EPCG) said it will soon open the long-anticipated tender for the procurement of BESS with a total capacity of 240 MWh.

Cospowers Technology specialises in battery energy storage systems and grid integration solutions worldwide. In addition to lithium batteries, last year it commissioned a 1.5 GWh/year sodium-ion battery production line, it said on its website.

Nu Energy and Investment is an engineering and renewable energy company established in Podgorica in June 2021. Data from Montenegro's business registry showed that Blue JCI LLC controls 85% of the company, while its founder Ayse Nur Alkaya owns the remaining 15%. According to its website, the company is developing two solar projects in Montenegro - the 3.3 MW Tuzi solar plant and the 3.2 MW Zupa power plant.