Montenegro-Italy submarine power cable completed It is planned to start production by the end of the year

The Montenegrin government said Italian power transmission system operator Terna has completed the laying of an undersea power cable
connecting Montenegro and Italy.

"This project is the largest of its kind in the Mediterranean, supporting local operations of more than 600 million euros," Terna CEO Luigi Ferraris told
a press conference.

Ferraris said last year that the power interconnect transmission capacity is 600 megawatts, instead of the 1,200 megawatts
originally planned.

The European Commission has provided €3.
5 million ($3.
95 million) in financial assistance with the German Development Bank KfW and the European Bank for Reconstruction and Development (EBRD), further supported
by the EU through a €25 million grant.

The €1.
15 billion project includes the interconnection between Montenegro and Italy (submarine cable), the construction and enhancement of a 400 kV high-voltage transmission system within Montenegro, and the construction of a 400 kV overhead line between Montenegro, Serbia and Bosnia, with a total length of 445 km of power lines and 423 km
of the seabed.

Luigi Ferraris said that the investment in the Montenegro-Italy submarine power cable will make Montenegro an energy center for the Balkan countries, adding that it is planned to start commercial use
by the end of this year.