Macedonia, Albania: EBRD key financier for new East-West electricity interconnection Macedonia-Albania, SEE Energy News
EBRD continues financing support of SEE/West Balkans PECI projects which will connect East-West corridors and increase their cross border capacity reaching toward Italian-West Balkans connection of TERNA submarine cable with Montenegro. TERNA is co-owner of Montenegro TSO company CGES.
EBRD is already promoted as the key financier of new interconnection 400Kv Serbia-Bosnia-Montenegro.
The EBRD is considering to extend a loan of up to 40MEUR to MEPSO, the Macedonian electricity transmission company, to fund the Macedonian component of the FYR Macedonia-Albania transmission line.
The project includes the construction of electricity transmission infrastructure from Bitola to the Albanian border, with a substation at Ohrid and the introduction of Smart Grid components at MEPSO.
By providing FYR Macedonia with the first interconnection to Albania, the project will provide the missing link in the initiative to establish an East – West electricity transmission corridor between Bulgaria, FYR Macedonia, Albania, Montenegro and Italy. The section between Bulgaria and FYR Macedonia has been completed. Albania and Montenegro are connected by a new 400kV line and the construction of a submarine cable between Italy and Montenegro is underway, supported in Montenegro by the Lastva – Plejvlja Transmission Line Project.
The project is a key link for the integration of Europe’s electricity markets’ integration. It is an important component of the transmission connection between electricity exporter Bulgaria and electricity importer Albania as well as a longer corridor from Bulgaria to Italy via an undersea cable between Montenegro and Italy, currently under construction and financed by TERNA Italy. This sustained market integration will improve regional energy security, efficiency and promote integration and market competition.
The FYR Macedonia-Albania transmission line is one of the EU’s priority projects PECI which is expected to receive an investment grant from the IPA 2015 programming exercise amounting to EUR 12 million. This includes EUR 6 million for MEPSO’s equity commitment and EUR 3 million to finance the Smart Grid components, transmits Serbia-energy.eu