Undersea power cable that connects Italy with Montenegro operational as of today

Undersea power cable that connects Italy with Montenegro operational as of today

Presidents of Montenegro and Italy, Milo Đukanović and Sergio Mattarella, put the undersea power cable into function today. Montenegro’s and Italy’s presidents pointed out that this projects, called “energy bridge”, is of utmost strategic importance for the region, as “it is the first interconnection between Montenegro and Italy and Europe”.

“We are all honoured to be here today and celebrate the completion of this grandiose project. We are witnessing the triumph of our vision. This project represents a firm bond between Montenegro and Italy”, Đukanović said.

He added that the undersea cable would contribute to a better quality of life in Montenegro.

“From the aspect of development philosophy, this project is a reflection of principles we aired when we started our transition journey. Those principles are openness, freedom of exchange and visions of Montenegro, as part of a unique European market. We proved professional, technical and staff capacity of cooperating with the best, Montenegro proved to be a reliable partner in the implementation of important cross border, European infrastructure projects”, Đukanović said.

He stressed that undersea electric and energy connection wasn’t just an energy bond that links Western and South-East Europe, but that it was also a great demonstration of the idea of the integration of capital, people and vision.

He reminded that this project is worth around EUR1 billion, including the Trans-Balkan corridor.

“It’s one of the most serious feats in Europe”, Đukanović said.

The president of Montenegro took the opportunity to call on the potential investors from Italy and other countries to work on the construction of new sustainable green energy resources in Montenegro.

He said that Montenegro had proven that it deserved to be part of developed Europe in the most demanding area, where knowledge and professionalism are put into focus.

“I’d like to thank our Italian friends from the competent state departments and Terna Company. I also thank global leaders in the field of the development and installation of undersea cables and accompanying facilities, companies Toshiba, Nexans and Prismian, which instilled part of their knowledge, innovation and corporate culture into this project. Such a strong international connection is especially important now when the Western Balkans is faced with the political slowdown of the integration process. I am sure that the approach we demonstrated represents confirmation of our ability to be part of the common market”, Đukanović said.

Italy’s president, Sergio Mattarella, said that this was a very important investment.

“It has strategic importance at the European level. It’s an energy bridge between Europe and the Balkans. An important hub for Italy, the Balkans, Europe… It brings us closer to each other”, said Mr Mattarella.

He pointed out that today’s ceremony was an important moment in the relations between the two countries.

“This is the fruit of our stable cooperation, the bond that has never been spoiled or damaged. There are numerous examples of cooperation between us. Italy sees Montenegro as a factor of stability in this part of Europe. The Balkan region is Europe. Montenegro’s EU aspirations deserve encouragement and support. I express my gratitude to Terna for the dedication”, Mattarella concluded.

President of Terna group, Katia Bastiolli, pointed out that innovative infrastructure had great importance for the integration of the Balkan energy market into Europe.

According to Terna’s CEO, Luigi Feraris, this interconnection is a key hub for European energy union. The interconnection represents an impulse for a set of prospects and a safer and more efficient electricity market.

The undersea power cable will provide significant revenues for Montenegro, as it will reduce losses in the transmission grid./ibna