News

Croatia eyes EPCG, Serbia wants CGES

Published

December 2, 2015

Comments

comments icon

0

Share

Published:

December 2, 2015

Comments:

comments icon

0

Share

Just as rumours calmed down about the takeover of Montenegrin Electric Power Company (EPCG) by Croatia, Serbian Prime Minister Aleksandar Vučić again stated that Serbian power utility EPS bought 11% of shares of transmission operator CGES, part of the Montenegrin company, Poslovni.hr reported.

Croatia has openly shown interest in acquiring 41.74% of EPCG from Italian partner A2A, and Croatian Economy Minister Ivan Vrdoljak conducted a series of preliminary meetings on the subject, portal Total Croatia News reported. Montenegro is looking for a new strategic partner in the energy industry because it wants to ensure the construction of the second part of the thermal power plant Pljevlja II, which requires an investment of EUR 338 million.

Vučić said in an interview on December 1 that his government bought a stake in the Electric Power Transmission System, and that it is considering investing further, CdM portal reported. The company said it is not aware of any sale to Serbia and that such purchase wasn’t mentioned even as an idea. “Terna couldn’t have negotiated the sale of a part of its 22% of shares either, not without the knowledge its partner, the Government of Montenegro, which owns 55% of the shares,” said CGES.

After speculation on the status of Montenegrin utilities, CGES shares rose in value and their trade volume increased at the domestic stock exchange. Furthermore, Vučić said Serbia is interested to buy shares in Elektroprivreda RS if Republika Srpska, one of two entities of Bosnia and Herzegovina, shows interest.

Related Articles

Serbia drafts just transition action plan public debate

Serbia drafts just transition action plan

30 May 2025 - The Ministry of Mining and Energy has published a draft just transition action plan and launched a public debate

Regional Power Sector Exchange Western Balkans disitribution system operator dso grids ohrid giz

Third Regional Power Sector Exchange in Ohrid: Power grids at core of energy transition

30 May 2025 - The third Regional Power Sector Exchange of the Western Balkans gathered over 80 energy professionals from the Western Balkans

Maja Maćić, Balkans Platform Head at Alcazar Energy

Maja Maćić: Alcazar Energy expands presence in Western Balkans

30 May 2025 - Maja Maćić, executive manager of Alcazar Energy, said at Belgrade Energy Forum that construction activities for some projects would start as early as this year

two solar power plants egesa enerji vojvodina

Turkish Egesa Enerji to build two solar power plants in Serbia’s Vojvodina province

30 May 2025 - Turkish company Egesa Enerji has launched a project to build two solar power plants in Vojvodina, with a total nominal capacity of 8.6 MW