A shared commitment to the development of energy projects and strengthening the investment environment
Today, an extremely productive working meeting was held at the Montenegrin Electricity Transmission System between the management of CGES, the Minister of Energy and Mining, Mr Admir Šahmanović, and the acting Director General, Zvjezdana Vujović. On behalf of CGES, the meeting was attended by the Chairman of the Board of Directors, Mr Aleksandar Mijušković; the Managing Director, Mr Ivan Asanović; the Company Secretary, Ms Katarina Blagojević; and the Head of the Managing Director's Office, Mr Aleksa Knežević.
Minister Šahmanović stressed that he is particularly pleased and proud of the cooperation and synergy between the Ministry and CGES, particularly when it comes to the involvement of expert colleagues from this company in the drafting and alignment of national legislation with EU legislation, which represents an important segment of preparing the energy sector for European standards and obligations.
The discussion focused on the most important topics for the future functioning and development of CGES – the implementation of CBAM regulation, intensifying the investment cycle, as well as the further development and modernisation of the electricity infrastructure. Particular emphasis was placed on projects that will ensure the long-term stability and compliance of Montenegro's transmission system with EU market and technical rules, in coordination with state institutions in light of the upcoming energy challenges, chapter closures and EU accession.
The meeting confirmed a high degree of alignment in the strategic commitments of CGES and the Ministry of Energy and Mining, as well as a shared commitment to continue strong investments and develop projects that will secure Montenegro a significant energy position in the region.
Following the meeting, a significant document was signed extending the validity of the contractual provisions on shareholder voting, as an integral part of the Strategic Shareholders' Agreement between the Government of Montenegro, Crnogorski elektroprenosni sistem AD and the company Terna S.p.A. Its signing formally confirms the continuation of the long-standing strategic partnership and joint cooperation in the energy sector.
The Voting Act regulates the manner in which the shareholders — the Government of Montenegro, CGES and Terna — exercise their voting rights in respect of their shares in this energy company. As the law stipulates that such an agreement can have a validity of no more than five years, the shareholders periodically renew it, without amending the basic provisions defined in the Strategic and Shareholders' Agreement.
Today's event represents a further step in a years-long collaboration that was crucial for the realisation of one of the most significant infrastructure projects — the subsea cable between Montenegro and Italy. This project is a symbol of technical excellence, energy interconnection, and the trust that CGES and Terna have built through their long-standing cooperation.
The signing of the voting document confirms the readiness to continue strategic cooperation, the commitment to the joint management and development of the regional energy market, further investment in the security and modernisation of transmission systems, and openness to new projects that contribute to energy integration and sustainability.
CGES and Terna remain committed to developing an advanced, reliable and interconnected energy infrastructure, as well as further strengthening the cooperation that has proven to be long-term, stable and highly successful.
Minister Šahmanović emphasised that the Ministry will continue to support the development projects of CGES and its partner institutions, convinced that cooperation and regular communication must remain continuous. A period lies ahead in which the focus should be on attracting investment and building capital projects in the field of renewable energy sources, which will be the key driver of Montenegro's energy and economic development.
