Tokyo-listed energy storage company PowerX, Inc. has signed a Memorandum of Understanding with Elektroprivreda Crne Gore AD Nikšić, Montenegro's national electricity utility, for strategic cooperation on battery energy storage systems, with an indicative target of approximately 500 MWh of capacity over an initial three-year period.

Agreement Scope and Objectives

The MOU establishes a framework for PowerX and EPCG to collaborate on identifying optimal deployment plans for battery energy storage systems to support grid reliability, peak shaving, and frequency regulation, along with comprehensive after-sales support. PowerX will also explore the potential establishment of local battery system assembly capabilities within Montenegro as part of the cooperation.

PowerX is headquartered in Tamano City, Okayama Prefecture, Japan, and is listed on the Tokyo Stock Exchange Growth Market. To date, the company's battery energy storage systems have been selected for 153 project sites in Japan, with a cumulative adopted capacity of 2.8 GWh.

Its business spans the development and manufacture of battery energy storage systems, scalable modular data centers, and battery-buffered electric vehicle charging systems, as well as the development and operation of grid-scale battery farms.

EPCG is Montenegro's national electricity utility, responsible for generating, transmitting, distributing, and supplying the majority of the country's electrical power.

The utility has around 874 MW of installed capacity, including major hydropower plants, a thermal power facility, and an expanding portfolio of wind and solar projects.

Montenegro's Energy Transition Context

The agreement comes against the backdrop of Montenegro's National Energy and Climate Plan, adopted in December 2025, which sets 2030 targets that include a minimum 50 percent share of renewable energy in gross final energy consumption.

EPCG, as the country's largest electricity producer, has identified battery energy storage systems as a key component of its grid modernization and renewable energy integration strategy.

Montenegro's status as a European Union candidate country, combined with its power interconnection with Italy, positions it as what PowerX described as a strategically important market for clean energy infrastructure in Europe.

Executive Statements

Masahiro Ito, Director, President, and Chief Executive Officer of PowerX, described the partnership as both a technological deployment and a long-term regional commitment. "Battery energy storage systems are becoming a core part of modern energy infrastructure, enabling greater integration of renewable energy while supporting grid stability, flexibility, and resilience," Ito said.

"As Japan's leading BESS provider, PowerX is pleased to partner with EPCG to support Montenegro's energy transition and the modernization of its power system. Through this strategic cooperation, we aim not only to deploy advanced battery storage solutions, but also to build a long-term foundation for PowerX's activities in Montenegro and the wider region, including the development of local battery system assembly capabilities."

Zdravko Dragaš, Chief Executive Officer of EPCG, emphasized the utility's focus on innovation and energy security. "This partnership represents an important step in the modernization of our power system and further confirms EPCG's commitment to an energy transition based on innovation and sustainability," Dragaš said.

"Cooperation with PowerX gives us access to advanced energy storage technologies, which are essential for the stable integration of renewable energy sources and the long-term energy security of Montenegro."

PowerX's European Market Ambitions

PowerX has stated that it aims to leverage the cooperation with EPCG as a foundation for expanding its battery energy storage business into the broader European market.

The potential establishment of local assembly capabilities in Montenegro is part of that longer-term regional strategy. In connection with the announcement, PowerX CEO Masahiro Ito also paid a courtesy visit to Milojko Spajić, Prime Minister of Montenegro.

The company's core battery energy storage business in Japan has accumulated 2.8 GWh of adopted capacity across 153 project sites, providing a domestic track record that it is now seeking to translate into European markets through this and potentially subsequent partnerships.

Montenegro's grid interconnection with Italy adds a cross-border dimension to the deployment, potentially allowing stored energy to flow into the broader European electricity network.

Powering Smarter Decisions Across Europe's Power Sector

When infrastructure investment cycles shift, and battery energy storage system projects accelerate across Europe, staying ahead of the pipeline is no longer optional; it's a competitive necessity for utilities firms looking to secure their position in a rapidly evolving market.

The Global Project Tracking (GPT) platform by Blackridge Research gives power professionals a structured, reliable view of project activity spanning power generation, water infrastructure, grid modernization, and renewable energy development across the region.

Whether you are a contractor, supplier, or investor operating in the power space, the platform consolidates critical intelligence into one accessible resource, reducing the time spent chasing fragmented data and increasing the time spent acting on it.

• Upcoming Projects

• Tender Notices

• Contract Awards

• Projects Under Construction

• Completed Projects

See the full depth of Europe's power project landscape for yourself. Contact the Blackridge Research team today to Book a Free Demo of the Global Project Tracking (GPT) platform.