Italy’s Terna to build power cable to ease green energy imports from Balkans

(ADPnews) - Nov 25, 2010 - Italian power-grid operator Terna SpA (BIT:TRN) will invest EUR 760 million (USD 1bn) in the construction of a undersea power interconnection to Montenegro to ease green power imports from the Balkans.

Terna has signed a final agreement for strategic partnership with Montenegrin majority state-owned company Crnogorski Elektroprenosni Sistem and the Montenegrin government on the building of the first power interconnector with the Balkan countries, Terna said on Tuesday.

Crnogorski Elektroprenosni Sistem will invest almost EUR 100 million in connecting the underwater cable to the existing grid and in strengthening the local transmission network.

As part of the agreement, Terna will become a 22% shareholder in Crnogorski Elektroprenosni Sistem.

(EUR 1.0 - USD 1.335)

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