Montenegro: TERNA power cable connection project with Balkans important for load regulation in Italy, SEE Energy News
TERNA strategic development plan 2016-2019 includes the submarine power cable connection Italy-Montenegro. The project will resolve the problem of the electricity deficit in Italy’s regions and alleviate the load on the network between the central and southern Italy. TERNA is a minority shareholder in Montenegro TSO Co CGES.
Terna company, which has been implementing a project of connecting Montenegro with Italy together with Elektroprenos (the Montenegrin Power Transmission System – CGES), has recently adopted the 2016–2019 Strategic Plan.
In addition to several Terna’s big investments, one of the most important projects included in its Strategic Plan is connecting Italy and Montenegro via the submarine power cable.
Terna plans to invest €900m this year, while it is expected to yield a profit over €1.5bn.
During presentation of the 2016–2019 plan, the Terna’s Steering Committee stated that the company’s budget would be €3.3bn.
“Since 2005 €10bn has been invested into the national grid. In the coming years, the company is to increase its efforts and continues to play its institutional role in Italy and Europe, promoting the directive on the energy balance, as well as environment protection thanks to the increasing integration of renewable energy sources in the network”, it was stated in the Terna’s Strategic Plan.
Terna’s most important project that will be implemented by 2019 are connecting Italy and Montenegro via the submarine power cable and constructing a transmission line to France.
“Major infrastructure projects include the construction of transmission line SorgenteRizziconi and connecting with Montenegro and France, which will be completed by 2019,” it was explained in the Strategic Plan.
The Italian company has continued the construction of transmission line Villanova Gissi to which the power cable from Montenegro is to be connected.
As stated in the Strategic Plan of Terna, this project will resolve the problem of the electricity deficit in Italy’s Abruzzo region and alleviate the load on the network between the central and southern Italy.
CEO of Terna Matteo del Fante is satisfied with the results achieved in 2015.
“We managed to finish the project of generational change, which was announced last year. That allowed us to bring over 300 young professionals in Terna. The strategic plan foresees a higher selective approach to investment, as well as energy connections with foreign countries. The benefit of this will be lower expenditures for companies and households. The plan confirms once again our commitment to ensure a solid and flexible structure,” Del Fante said.
In mid-November 2010, the agreement on the implementation of the project related to connecting Italy and Montenegro via power cable was signed by the then Montenegrin minister of economy Branko Vujovic, the chairman of the CGES Board of Directors Zoran Djukanovic and the CEO of Terna Flavio Cattaneo.
The total value of the project is about €1bn. Montenegro participates with €100m in its implementation, transmits Serbia-energy.eu
- June 11, 2021 Slovenia: MOL Group’ retail acquirement agreement with OMV
- June 11, 2021 Serbia: NIS’ environmental projects investments
- June 11, 2021 Romania: IFC’s investments in Raiffeisen green bond issue