The Italian division of the Toshiba corporation was awarded a contract for the engineering and construction of a part of the underwater cable that should start exporting electricity from Montenegro and the region to Italy in 2015, which will be implemented by Terna, reports Reuters.
Terna is financing a large part of the project, but the Montenegrin Elektroprenosni sistem (CGES), whose Italian company is a co-owner, is participating with around 100 million euros.
"Certain parts of Europe are suffering from a contraction in energy supply and long-distance transmission systems are encouraging the import of electricity from other countries," said Toshiba, underlining that the project will contribute to the integration of the electricity grid between Southeast Europe and the European Union.
"The construction of the cable will allow the A2A company to transmit to Italy the energy produced in the Montenegrin EPCG," said Reuters.
A2A manages the Electric Power Company of Montenegro, which does not have enough electricity even for domestic consumers. Without additional energy facilities, it can hardly export, except possibly periodic energy surpluses.
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