In early February 2010 in Rome, Montenegro and the Italian Republic signed an agreement on the construction of the undersea electricity interconnection between transmission networks of the two countries. In early July of the same year, the Parliament of Montenegro ratified this Agreement by adopting the Law that regulates this area.1 On 25 January 2011, the State of Montenegro, the Italian company “Terna” and Crnogorski Elektroprenosni Sistem AD concluded the Project Coordination Agreement which will cost about €800 million, out of which over €600 million is allocated to the actual construction of the undersea cable and converter station on the Montenegrin coast, while at least €100 million is allocated to the construction of the 400kV transmission line corridor from the Montenegrin coast to Pljevlja.
In early 2015, the Public Company for Coastal Zone Management, in coordination with the government, prepared the Agreement on Use of Coastal Zone for Implementation of Undersea Cable Construction Project. The study will show that the agreed fees are in the interest of the Italian company “Terna” and that the State of Montenegro have given up multimillion revenues.
Complete study download HERE (PDF)
