Matteo del Fante, CEO of the Italian energy company Terna, said in an interview to Italian media that the connection with Montenegro via submarine electricity cable is still a priority for the company.
Del Fante also pointed out that Montenegro represents a bridge that will allow Italy to enter energy markets in the Balkan. The focus of Terna regarding cross-border connections in the coming years will be better energy connections with Corsica and the Balkans. Regarding Balkans, Terna is focus on the submarine cable, a joint project with Montenegrin electricity transmission system operator CGES. According to del Fante, Montenegrin electricity market is small, but it could be used as a bridge in order to enter the markets of neighboring countries.
Del Fante stressed that Terna, as a partner in CGES, is following the development of networks in the Balkans and advocate for increasing interconnections in the region.
In mid-November 2010, Montenegro has signed the contract on the implementation of project for linking electricity grids of Montenegro and Italy with the submarine DC cable. The value of the project is estimated to one billion euros, while Montenegro will invest some 100 million euros. Submarine DC cable should be built between Pescara and Budva and by the recent announcements it would be put in service in 2017. Montenegro should be entitled to 20% of the capacity and transit fees from the future cable. It planned to connect to Serbia and Bosnia and Herzegovina from Montenegro. The connection to Albania is also planned, but at the moment it is uncertain since Albania also plans to connect directly with Italy via submarine cable of their own.
In January 2011, Terna acquired 22 % stake in CGES by paying 34 million euros. The Government of Montenegro owns 55 % stake in CGES, transmits Serbia-energy.eu
