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The Future Belongs to Green Projects

Zeta Energy, a joint venture between Montenegro’s EPCG and Norway’s NTE, produces electricity and ranks among the most successful enterprises in Montenegro

We are currently considering popular green projects and searching for projects related to the reconstruction of existing hydroelectric power plants or the construction of news,” announce our interviewees.

Based in the central Montenegrin town of Danilovgrad, Zeta Energy specialises in generating electricity and owns two small hydroelectric power plants: Slap Zete and Glava Zete. Their reconstruction, which involved an investment exceeding eight million euros, was part of the joint EPCG and NTE investment plan to preserve and increase the capacities of existing small HPPs through reconstruction projects. In technical terms, this investment resulted in a 30% increase in production compared to the performance prior to reconstruction, during which there were no layoffs despite financial indicators suggesting otherwise.

CEO Dragan Vlahović was also the lead project manager and responsible person throughout the reconstruction process, which, like modernisation, complied with all environmental standards. Complete electro-mechanical equipment replacement was undertaken, along with the sanitation and adaptation of the entire construction infrastructure, resulting in Montenegro gaining two electricity production systems that can be compared to those of the EU’s leading energy companies.

Zeta Energy has been declared one of the most successful companies in Montenegrin energy sector by CompanyWall Business

All these elements were recognised as prerequisites for CompanyWall Business to declare Zeta Energy as one of the most successful companies in the Montenegrin energy sector.

Despite all the global and local economic challenges, 2023 was one of our best years in revenue and, above all, production levels achieved. This was thanks primarily to very favourable hydrometeorological conditions, but also due to the reconstruction process that met the primary goals of complete automation, reliability and high efficiency. We hope to expand our business beyond Montenegro’s borders by developing new projects within the energy sector, together with NTE, one of the largest producers of electricity in Norway.

We will continue to compete with dedication and hard work, as we have done so far. Competition is good, because it doesn’t allow one to become complacent and provides constant motivation to seek new opportunities and improve existing ones, which is ultimately the essence of life, not just business.


In line with our company’s development strategy and collaboration with leading experts from NTE, we conduct research and analyse the development of new projects, primarily from renewable energy sources, respecting the EU’s Green Agenda. We believe that we can fulfil all our strategic plans if we tie the basic goal to that – working with a team of high-quality people, people with a positive attitude, character and knowledge. We hope that, in the near future, the business world will further emphasise such individuals, who should be at the heart of every healthy and successful business. That’s why it’s crucial to invest in educating and rewarding employees who contribute to company development. ∙

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