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Montenegro

DJUKANOVIC AND MATTARELA 15. 11. 2019.   >>  17:59 0

DJUKANOVIC AND MATTARELA

Submarine power cable today becomes operational

Presidents of Montenegro and Italy, Mr Milo Djukanovic and Mr Sergio Mattarella, put the submarine electrical power cable into function today.

President Djukanovic said that today was a great day for Montenegro and Italy, two traditionally friendly countries that have united the Adriatic Sea forever, and even more firm from today.

‘’Completion of a grand project for the 21st Century is a great event. Great not only for our countries, but also for the Balkans and Europe. The submarine electro energy project represents not only a solid energy link between Montenegro and Italy, between the Balkan and Apennine Peninsula, but a model of further integration of the European continent. This is an example of what a Member State and the entire EU can give to Montenegro and the Western Balkan countries, and vice versa - what Montenegro and the Western Balkan countries can give the EU’’ Djukanovic said.

‘’World progress is based primarily on the realization of good ideas. We can proudly testify that we support our philosophy of openness in gigantic scale infrastructure business. With this we show in particular that our commitment to European values and the achievement of a European quality of life are not rhetorical, but very practical ’’ Djukanovic said.

He emphasized that through dedicated work of the Government in four terms, this project was completed and brought to commercial use.

‘’Montenegro will have significant revenues based on CGES '20% share of the total cable capacity. Through greater utilization of the 400 kV network, we will reduce transmission losses and raise the level of technical resilience of the energy system. Ultimately, revenues from transit and leasing of transmission capacity will have the effect of reducing the costs of transmission system users. This project will provide significantly greater capacity, security and reliability of the transmission network, enabling prerequisites for smooth business operation and better quality of life for our citizens’’ Djukanovic pointed out.

‘’Today, more than ever in history, energy stability is a key element of national and international security. It is much more reliable in accessing the common energy market. Thus, both our current and planned production capacities will experience full market valorisation. Also, the two-way submarine cable provides Montenegro with easy and affordable electricity imports and enables it to take full advantage of the position of part of the integrated energy market,’’ he added.

The integration of our electricity market with a stable Italian market will also help create new business opportunities and generate revenue not only for Montenegro but for all countries in the region.

‘’I urge potential investors from Italy, as well as from other countries, to work together to build new sustainable sources of green energy in Montenegro. We are increasingly counting on renewables - wind and sun, to protect ourselves from supply risks, especially in the face of climate change,‘’Djukanovic said.

‘’Finally, I am sure that this quality project is a good basis for our further rapprochement and integration, that today we are making a great step forward in consolidating the trust that is needed in our region, and I would say so much needed in this moment and in Europe,’’Djukanovic concluded.

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