Trans-Balkan electricity corridor project crucial for creating regional market of electricity

    #JohannesHahn #AleksandarAndrijaPejović #BoardOfDirectors #EuropeanCommission #WesternBalkans #BosniaAndHerzegovina #LastvaGrbaljska

    Lastva Grbaljska, Montenegro (9 June 2017) — Trans-Balkan electricity corridor is crucial for the the process aimed at creating the regional market of electricity and a strategic investment important for both the region and Europe, European Commissioner for Neighbourhood Policy and Enlargement Negotiations Johannes Hahn highlighted during the visit to Latva Grbaljska… Trans-Balkan electricity corridor project crucial for creating regional market of electricity

    Lastva Grbaljska, Montenegro (9 June 2017) — Trans-Balkan electricity corridor is crucial for the the process aimed at creating the regional market of electricity and a strategic investment important for both the region and Europe, European Commissioner for Neighbourhood Policy and Enlargement Negotiations Johannes Hahn highlighted during the visit to Latva Grbaljska.

    Commissioner Hahn, accompanied by Minister of Economy Dragica Sekulić, Minister of European Affairs Aleksandar Andrija Pejović, president of the Board of Directors of the Montenegrin Electric Transmission System (CGES) Dragan Laketić and Director for Southeast Europe and Turkey within the KfW Development Bank Christoph Tiskens, visited the location of the Lastva substation.

    This is one of the most important projects within the connectivity agenda, aimed at strengthening connectivity of power systems of Romania, Serbia, Montenegro, Bosnia and Herzegovina and Italia, Commissioner Hahn highlighted, adding that this project and all activities implemented so far represent the commitment of the European and Montenegrin institutions in terms of implementing the requirements.

    This project is important not only for the regional connectedness, but also for energy safety and tourism development throughout uninterrupted energy supply, Commissioner Hanh underlined. The European Commission supported this project with a donation amounting EUR 25 million, Commissioner Hahn explained, adding that EUR 60 million were provided by the KfW Development Bank and EBRD through loan and EUR 17 million as a contribution made by Montenegro.

    Minister of Economy Sekulić said that the Trans-Balkan corridor project will encourage neighbours in the region to create projects aimed at strengthening ties between the Western Balkan countries, adding that the energy potential of the region can transform the Western Balkans into a serious electricity producer and important transit point in Europe. Thanks to this project, Montenegro will become an important energy hub in the region, Minister Seklić outlined.

    Minister of European Affairs Aleksandar Andrija Pejović stressed that the political framework within the Berlin process and the EU financial support are important for implementing regional projects, voicing expectations that the EU will continue supporting infrastructural projects in Montenegro.

    The regional connectedness in infrastructure and energy is important and it will lead to strengthening ties among the region and better connectivity between the Western Balkans and the EU, Minister Pejović stressed.
    President of the Board of Directors of the Montenegrin Electric Transmission System (CGES) Dragan Laketić said the implementation of the project will improve the transmission network in Montenegro and make it more reliable and secure for its users.

    Director for Southeast Europe and Turkey within the KfW Development Bank Christoph Tiskens underlined that the KfW has been selected as the leading financial institution for the implementation of EUR 25 million from the EU support to the Trans-Balkan electricity corridor in Montenegro. The KfW is also willing to support other infrastructural projects in Montenegro, such as the construction of wastewater treatment plant in Podgorica, Mr Tiskens pointed out.

    Source: Government of Montenegro