Bloomberg News

EBRD Considers EU65 Million Loan to Fund Montenegro Power Line

February 24, 2012

Feb. 24 (Bloomberg) -- The European Bank for Reconstruction and Development may arrange a syndicated loan of as much as 65 million euros ($88 million) to fund a power line in Montenegro.

The 400 kilovolt line will stretch 155 kilometers (97 miles) from Pljevlja in the north to Lastva on the Adriatic Sea, where it will link up with a planned undersea cable from Italy, the London-based lender said today on its website.

The loan has cleared concept review, with approval expected April 25, and will be made to Crnogorski Elektroprenosni Sistem, or CGES, Montenegro’s grid operator. In 2010, CGES and Terna SpA signed an agreement to lay the cable across the Adriatic.

“The investment directly supports the development of the regional electricity market in southeast Europe by putting in place the infrastructure that will allow electricity trade between the region and Italy,” today’s statement said.

--Editor: Chris Jasper.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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