Montenegro: TERNA/CGES TSO JV, cooperation model for success

5. March 2014. / SEE Energy News

Montenegrin transmission system company will invest 20 MEUR in 2014th in underwater cable project from Montenegro to Italy, said CGES executive director Ivan Bulatovic. He added that the total CGES investment in the underwater cable project between Montenegro-Italy would exceed 100 MEUR.

The cooperation with the Italian partner TERNA, which owns 22 percent of CGES shares, can be considered quite satisfactory, especially if we bear in mind that this is a partnership between one of the largest and smallest transmission system operators in Europe. In this regard, such cooperation faces many challenges that we, in my opinion, successfully overcome taking into account all the cultural and sociological differences from our environment. Relating to the project of underwater cable construction, I believe that despite all difficulties that are completely expected for this type of project, certain deviations of planned dynamics from our or Italian side are possible.

In the underwater cable construction, CGES will participate in a total investment of about 20 percent, provided that the bulk of the funds are provided through the credit agreement with KfW and EBRD Banks.

Source; Serbia Energy See Desk

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