Podgorica, (MINA-BUSINESS) – Business operations of Crnogorski elektroprenosni sistem(CGES) last year was successful, said the chairwoman of the Board of Directors of that company, Vesna Bracanovic, adding that during this year they expect investments in energy infrastructure of about € 27 million.
In an interview with Mina-business agency, she said that the past business year can already be described as successful for CGES both in comparison with plans and in comparison with 2017.
"Based on the business results realized in the first nine months of the last year, CGES recorded a net profit of € 4.2 million. These results are a consequence of the efforts made to secure revenue growth, as well as to improve business processes that have enabled further optimization of business costs thereby reaching business efficiency goals ‘’,Bracanović said.
According to her, the last year was characterized by significant investments.
"Despite the challenges, which are the accompanying element of our business activity, the significant and at the same time very complex infrastructure project- connecting the transmission systems of Montenegro and Italy by a submarine cable, as an important part of the Trans Balkan Corridor, is coming to an end," Bracanović said.
She reminded that additional capacities in the transmission system, which will be available upon completion of the project, will improve the reliability of system operation raising the level of quality of electricity supply services, and enable prerequisites for further economic development, primarily of the coastal zone.
Bracanović notes that CGES will continue investing in this year, both in new infrastructure and in the reconstruction of the existing energy one.
"The total value of planned investments in this year is about € 27 million EUR," Bracanović said.
According to her, this year, CGES has planned the completion of the SCADA project, which ensures compliance with the standards of the European Network of Transmission System Operators (ENTSO-E) and enables significantly better and more efficient monitoring and management of electricity transmission system from two independent locations.
"In particular, this project contributes to increasing the level of security of the power system operation and to better monitoring and management at the level of CGES substations," explained Bracanović.
Beside the reconstruction of the existing infrastructure, CGES's activities this year will be aimed at satisfying the needs of consumers in terms of construction of the new necessary capacities.
"Therefore, the planned activities relate to the project of construction of the substation" Zabljak ", which will ultimately allow one of the most important tourist centers of Montenegro to receive bidirectional power supply at 110 kilowatt (kV) voltage level, both via already built 110 kV transmission line" Pljevlja -Zabljak, as well as via 110 kV transmission line Brezna-Žabljak, implementation of which is in the advanced phase, said Bracanović.
A project of similar character is also planned in the part of the network on the coast.
"After a signed loan agreement with the German Development Bank (KfW), with the significant support of the Montenegrin Government through the issuance of a sovereign guarantee, this year we intensify our activities on implementing the project of constructing electricity infrastructure on Luštica peninsula," Bracanović said.
With its implementation, through 110 kV transmission network power supply, increase in the reliability of power supply throughout the region will be ensured, while the project itself will encourage further development of tourism in the area.
Bracanović says that in the coming period, no additional borrowings for financing investment projects has been planned and that they will be financed from the company's own funds.
According to her, CGES is extremely committed to the implementation of projects that will ensure the connection of transmission systems of Montenegro and Italy via undersea cable, which specifically implies construction of Lastva substation and its connection to the existing network.
"Realization of projects of this scale is not common and is extremely demanding. Nevertheless, despite the challenges that we have encountered and which we have successfully overcome, the works are being brought to an end, "Bracanović said.
Lastva substation and 110 kV transmission line "input-output" Lastva were put into trial operation in early November thus providing technical conditions and enabling successful start of testing of part of the equipment of the converter plant the construction and commission of which was obligation of Terna .
Works on the 400 kV transmission line Lastva-Čevo section, which will provide connection of the Lastva substation to the 400 kV transmission line Podgorica-Trebinje, on the "input -output" basis have reached the final stage.
At the moment, the intensive electrical installation and finishing works are being performed.
"Our teams are doing everything to complete the works, and in order to, yet this month, obtain all the necessary approvals for putting into trial operation this part of the infrastructure as well," Bracanovic said.
She said that functional tests would be conducted in the coming months in order to, as planned, create pre-conditions for the commercial use of the cable in the second half of the year.
After the commissioning and commencement of commercial use of the cable and the mentioned infrastructure, the activities on further construction of the Trans Balkan Corridor through Montenegro will keep going on.
"The works on the construction of the 400kV Lastva-Pljevlja transmission line, Čevo-Pljevlja section, are already well underway, and options are being analyzed for continuing towards Serbia, i.e. Bosnia and Herzegovina," added Bracanović.
Among the most important activities planned for this year Bracanovic mentioned is completion and commissioning of Lastva substation and 400 kV transmission line Lastva-Čevo, which besides the fact that they are part of the project of connecting transmission systems of Montenegro and Italy, have special significance for reliable supply of the coast and its further economic development.
As a complementary project, intensification of activities on implementing the project of constructing electricity infrastructure on Luštica peninsula is planned in the current year.
Bracanovic has reminded that this year, it will be a ten- year anniversary of CGES as an independent company and so as of the successful business with significant realized investments.
"CGES, as an independent company, has so far realized investments worth almost €150 million which contributed to increasing the level of security and quality of electricity supply allowing the connection of new customers and producers of electricity," Bracanovic said.
In the next few years, she said, connection of new generation facilities is envisaged.
"The effects of the work done so far are visible and, above all, reflect the knowledge and skills of our employees, and of significant support of relevant institutions. The results that have been accomplished thus far imply an obligation to justify our expectations and make an additional effort to achieve the goals we set before us, we will dedicate ourselves to this year, "concluded Bracanović.