Submarine cable helps triple CGES’ electricity transit revenues
Montenegrin TSO pulled in EUR 11.6 million in revenues in 2020 from the commercial use of the power link between Montenegro and Italy.
Energy companies in Montenegro to invest EUR 734 million by 2024, EUR 1 billion in total
Energy companies in Montenegro plan to invest more than EUR 1 billion, of which EUR 734.6 million in the next four years, according to the third socio-economic package, adopted by the government to mitigate the coronavirus pandemic effects. The largest part of these investments will be implemented by state-owned companies Elektroprivreda Crne Gore (EPCG), Crnogorski […]
CGES earns EUR 3 million by auctioning capacity of submarine power cable
Montenegrin transmission system operator (TSO) Crnogorski Elektroprenosni Sistem (CGES) has earned EUR 3 million by auctioning the capacity of the undersea power cable between Montenegro and Italy. The electricity interconnector was put into operation in mid-November, and in December the Coordinated Auction Office in South East Europe (SEE CAO) has started the auction process for […]
Submarine power cable promotes Montenegro as energy hub for Balkans – Ferraris
The Montenegro-Italy submarine power cable has been deployed under an investment that will enable Montenegro to become an energy hub for the Balkan countries, said Terna CEO Luigi Ferraris, adding that the commencement of commercial use is planned by the end of the year. On the occasion of the successful completion of the 445-kilometer submarine […]
SEE CAO appoints Ivan Bulatović as new executive director
Coordination Auction Office in South East Europe (SEE CAO) has appointed Ivan Bulatović as the new executive director, SEE CAO said in a news release. SEE CAO manages the coordinated explicit allocation of cross-border transmission capacities on six borders in SEE region. Ivan Bulatović has extensive experience in the field of power systems and has […]
CGES to pay dividend from retained earnings from previous years
Montenegrin transmission system operator (TSO) Crnogorski Elektroprenosni Sistem’s (CGES) shareholder assembly has backed a EUR 16.2 million dividend payment, the company said on its website. On the last day of 2018, the company’s shareholder assembly adopted the decision to allocate a gross EUR 16.24 million in dividends. This is a part of the company’s retained earnings […]
CGES, KfW sign EUR 20 million loan agreement for Luštica transmission project
Montenegrin transmission system operator (TSO) Crnogorski Elektroprenosni Sistem (CGES) and German development bank KfW have signed a EUR 20 million loan agreement for the Montenegrin Coast: Lustica Region Development. The guarantee for the loan will be secured by the Government of Montenegro, and the collateral for the guarantee will be provided by CGES, in the […]
Energy Community backs certification of transmission system operator CGES
The Energy Community Secretariat supports the certification of the Montenegrin transmission system operator Crnogorski Elektroprenosni Sistem (CGES) in line with the Preliminary Decision of the Regulatory Energy Agency of Montenegro (RAE). RAE is to adopt a final certification decision, taking utmost account of the Opinion of the Secretariat. The Secretariat’s Opinion on the certification of […]