Montenegro’s Voli Secures EBRD Funding To Decarbonise Operations

By Branislav Pekic
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Montenegro’s Voli Secures EBRD Funding To Decarbonise Operations

Montenegro’s largest food retailer, Voli, has secured a €4 million loan from the European Bank for Reconstruction and Development (EBRD) to improve energy efficiency and reduce its carbon footprint.

Voli will use the funds to install solar panels with up to 4 MW capacity and electric vehicle charging stations at its facilities and logistics centre.

In addition to delivering large CO2 reductions, the sustainability upgrades will shield Voli from any future energy price instability.

The installation of electric vehicle charging stations on site will also make the chain more attractive to shoppers, including tourists, the retailer said.

Green Economy

‘The green economy and energy security are our top priorities across the region and in Montenegro," commented Remon Zakaria, who heads up the EBRD in Montenegro.


"Our long-standing client, Voli, has made yet another great decision to supply its modern retail facilities with its own solar energy, helping decarbonise its operations while securing its energy supply for decades to come.’

Energy Efficiency Projects

The president of Voli, Dragan Bokan, commented, ‘Voli plans to develop more and more projects aimed at energy efficiency in the coming years. [...] Our investment in the construction of solar panels will contribute to reduce pollution and protect the environment by cutting carbon dioxide emissions.’

Voli has been working with the EBRD since 2009, and the bank is also a minority equity investor in the company since 2015.

Founded in 1995, Voli operates over 65 supermarkets (Voli) and discount stores (Naš diskont) across Montenegro, in addition to an online store (


Since the start of 2023, Voli has re-opened two of its stores (in Bijela and Podgorica), after extensive refurbishment work.

Read More: Montenegro Kicks Off ‘Stop-Inflation’ Campaign

© 2023 European Supermarket Magazine – your source for the latest Retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: European Supermarket Magazine.

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