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Elektromreža Srbije claims that purchase of CGES shares paid off

Benefits accrued from the energy cable connection Montenegro and Italy were felt in the region countries too, as they can now offer surplus of electricity to Europe. “Elektromreža Srbija” company has taken it even further buying 10% of the shares of the Montenegrin electricity transmissions system which has turned out to be very cost-effective.

“Time has shown that we made good decision in every sense”, company representatives have said.

They pointed out that energy connection between Montenegro and Italy was very important for Serbia as it “is in close interdependence with the realization of Trans-Balkan corridor for the transmission of electricity”.

The cable enables export of energy form the renewable resources from the Balkan region to Italy and vice versa. It also provides strengthening of regional stability of supply, as well as attracting investment into the sector of generating electricity from renewable energy resources.

“Construction of this cable is a step forward to connecting Balkan and Western European market and creating integrated European energy market. In that context, Serbia and EMS will have financial benefits from the electricity transit”, company representatives say.

Asked if they have plans to buy additional package of shares of the Montenegrin electricity transmission system, they say they don’t want to reveal anything now.

Energy cable became operational in November last year. An ‘electrical bridge’ that is entirely ‘invisible’ because it is undersea, and underground when on land, and stretches over 445 km between the electrical substations in Cepagatti, in the province of Pescara, and Lastva, in the municipality of Kotor: a feat of internationally renowned engineering excellence, in both in terms of innovation and technology. Today Terna, the company that manages the Italian electricity grid, inaugurated its new power line, in the presence of the President of the Italian Republic, Sergio Mattarella and the President of Montenegro, Milo Đukanović; the power line will connect Italy with Montenegro and, therefore, connect the Balkans to Europe for the first time ever.

Total value of this project is estimated at €1,1 billion.

This is the   longest high-voltage undersea connection ever built by Terna: 423 km of cables have been laid under the Adriatic Sea, at a maximum depth of 1,215 metres, with a further 22 km of underground cable, 16 km in Italy (from the coast to the Cepagatti substation) and 6 km in Montenegro (from Budva to the Kotor substation). The Cepagatti and Kotor substations represent feats of absolute technological excellence in civil and electrical engineering, standing as global leaders for electronic solutions with the added benefit of Terna’s most powerful electricity converter ever built. The power line is the result of years of work by technicians and highly-specialised professionals: its work sites, which opened in 2012, have involved 124 companies in total (80 in Italy, 62% of them from the Abruzzo region, and 44 in Montenegro). The undersea cables have been laid on the Adriatic seabed through three separate laying campaigns, which took place between 2015 and 2017. Two-way power exchange will make it possible to diversify supply and strengthen reliability, efficiency, security, environmental sustainability and resilience of the electricity grids on both sides of the Adriatic; it will also allow the potential for production from renewable sources, available both in Italy and in the Balkan area, to be fulfilled.

This interconnection is the result of many-year long work of highly-qualified and specialized professionals.

For Montenegro and the region, it’s the first interconnection of one-way electricity , which contributes to strengthening energy independence of the country and entire region.

Montenegro has considerable revenues on the grounds of 20% of the share of CGES in the total capacity of the cable.

 

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