Today, a highly productive working meeting was held at Crnogorski elektroprenosni sistem (CGES) with the Minister of Energy and Mining, Mr. Admir Šahmanović, and Acting General Director, Mr. Zvjezdan Vujović. Representing CGES, the meeting was attended by the Chairman of the Board, Mr. Aleksandar Mijušković, Executive Director, Mr. Ivan Asanović, Company Secretary, Ms. Katarina Blagojević, and the Head of the Executive Director Office, Mr. Aleksa Knežević.
Minister Šahmanović expressed his great satisfaction and pride in the ongoing cooperation and synergy between the Ministry and CGES, particularly with regard to the involvement of expert colleagues from CGES in aligning national legislation with EU regulations. This collaboration is crucial in preparing Montenegro’s energy sector to meet European standards and obligations.
The discussion focused on key issues for the future growth and operation of CGES, including the implementation of the CBAM regulation, intensifying the investment cycle, and the continued development and modernization of the electrical infrastructure. A special emphasis was placed on projects aimed at ensuring the long-term stability and alignment of Montenegro's transmission system with EU market and technical standards. Coordination with state institutions was highlighted in anticipation of upcoming energy challenges, the closing of negotiation chapters, and Montenegro’s EU accession.
The meeting confirmed a strong alignment between CGES’s strategic goals and those of the Ministry of Energy and Mining, as well as their joint commitment to further investments and the development of projects that will position Montenegro as a key player in the regional energy market.
Following the meeting, an important document was signed, extending the validity of shareholder voting provisions as an integral part of the Strategic Shareholder Agreement between the Government of Montenegro, CGES, and Terna S.p.A. By signing this agreement, both parties reaffirmed their long-term strategic partnership and continued joint efforts in the energy sector.
The Voting Agreement outlines how shareholders – the Government of Montenegro, CGES, and Terna – exercise their voting rights based on shares in the energy company. In accordance with the law, such agreements can remain valid for up to five years, after which they are periodically renewed without changing the basic provisions established in the Strategic and Shareholder Agreement.
Today’s event marks a further step in the longstanding collaboration, which has been instrumental in implementing one of the most significant infrastructure projects – the submarine cable connecting Montenegro and Italy. This project stands as a symbol of technical excellence, energy connectivity, and the trust that CGES and Terna have built over many years of cooperation.
By signing the voting agreement, both parties reaffirmed their commitment to continuing strategic cooperation, jointly leading and developing the regional energy market, investing in the security and modernization of transmission systems, and remaining open to new projects that will contribute to energy integration and sustainability.
CGES and Terna remain dedicated to developing advanced, reliable, and interconnected energy infrastructure, and further strengthening their partnership, which has proven to be long-term, stable, and exceptionally successful.
Minister Šahmanović stressed that the Ministry would continue to support the development projects of CGES and its partner institutions, confident that sustained cooperation and regular communication will be key to progress. Looking ahead, the focus must be on attracting investment and building capital projects in renewable energy, which will serve as the main drivers of Montenegro’s energy and economic growth.