On 30 June 2017, CGES celebrated eight years of its existence as a separate legal entity. On that occasion, the newly-elected Chairwoman of the Board of Directors, Vesna Addressing those present, Bracanović emphasised that the jubilee is connected and for the fact that The first transmission network substation in Montenegro was commissioned 60 years ago, with the aim of ensuring a reliable power supply to one of the first drivers of Montenegro's economic development at the time. – The "Nikšić" Steelworks, and that together with the 110 kV transmission line to Bileća, this substation represents the beginning of the development of electricity transmission in Montenegro in its modern sense. 'Just as in those early days, so today, our primary task, through performing a public service, has remained to ensure an acceptable and reliable electricity supply for all citizens and industry in Montenegro. We do this through good cooperation with our neighbours, through a responsible approach and constant work on development, maintenance and management of the transmission network in Montenegro.
Furthermore, in her speech, the Chairwoman of the Board of Directors highlighted a record performance in investments in the previous year, amounting to over 30 million euros, with a net profit of 2.4 million euros achieved under very difficult conditions.
I would particularly like to highlight that we have continued with activities on the construction of the associated infrastructure for the submarine cable and interconnection with Italy, so that, despite the problems that were to be expected for such complex investment projects, work has been progressing on all three construction sites.
For this project, with the support of the Government of Montenegro and the Ministry of Economy, grant funding of 25 million euros has been secured for the construction of the second part of the Trans-Balkans Corridor, Montenegro Section. In this way, in the previous year, it was secured.đ...full financing for the 400 kV 'Bajina Bašta-Pljevlja' transmission line, as well as a number of projects that are very significant for strengthening the transmission network. With this, the EU has given strong support to the work undertaken by both Montenegro and CGES in their respective domains, in implementing the connectivity agenda and integration into the European energy market, while also creating the prerequisites for the faster realisation of projects with a regional dimension, and doing so without an additional tariff burden for consumers in Montenegro."
She also highlighted the fact that this project has attracted the attention and positive comments of the highest European officials, including European Commissioner Johannes Hahn, who recently visited our construction site in Lastva.
We have completed work on two new facilities, creating a long-term solution for a safe and high-quality electricity supply to the areas of Kotor and Nikšić. The project to ensure the energy stability of the municipalities of Mojkovac and Kolašin has also been completed, creating the prerequisites for the rapid economic development of this part of Montenegro. as well as the conditions for the connection of RES."
We have launched a project to enhance and improve the supervisory and management capacities, as well as the performance, of the existing National Dispatch Centre, which will establish two parallel and independent dispatch centres at two physically separate locations in accordance with ENTSO-E standards, as well as a number of other projects significant to our system concluded Vesna Bracanović.
"The results we have achieved encourage us and are, above all, the result of the knowledge and abilities of our employees, as well as the support of the institutions and of you who are with us today. On the other hand, everything that has been achieved so far places an additional obligation on us to meet expectations and to make further efforts and exert additional effort in achieving the goals that lie ahead of us."