The Trans-Balkan electrical power corridor represents a significant stride toward regional energy integration and provides a foundation for further development of renewable energy sources. The Lastva substation, with its advanced technology and pivotal role in the transmission grid, stands as a symbol of the successful realization of this ambitious project, as assessed during a visit by representatives of the European Bank for Reconstruction and Development (EBRD) to the Lastva substation, hosted by officials from Montenegro’s Transmission System Operator (CGES).
Aleksa Knežević, CGES representative and project leader for the construction of the Lastva substation, described the visit as an opportunity to reflect on the substantial goals and achievements of the Trans-Balkan electrical power corridor.
“This project, part of a broader initiative, aims to enhance energy interconnectivity between Montenegro, Serbia, and Bosnia and Herzegovina, linking them with neighboring countries. Ultimately, this will lead to the formation of a regional electricity market in the Western Balkans,” explained Knežević.
He highlighted the project’s objectives and benefits, which include enabling the connection of additional renewable energy sources, enhancing electricity supply security, and reducing losses in the transmission network.
Discussing key projects and technological innovations, Knežević mentioned that for the underwater interconnection project between Montenegro and Italy, TERNA laid a 423-kilometer submarine cable, linking converter stations in Lastva and Cepagatti, Italy.
“Construction on the Lastva substation began in 2014, and it was commissioned in 2018. The total cost amounted to 35.7 million euros, financed by a KfW loan and CGES’s own funds,” Knežević stated.
He elaborated that the Lastva substation utilizes GIS equipment, energy transformers with nominal capacities of 300 MVA and 20 MVA, and modern management and protection equipment.
Regarding future projects, Knežević mentioned the ongoing installation of variable shunt reactors, with a project value of 14.5 million euros. EBRD provided nine million euros in financing for this project, with CGES funding the remainder.
Knežević emphasized that the realization of the Lastva substation and associated transmission lines posed challenges for CGES from both technical and financial perspectives, but through collaboration with colleagues, consultants, contractors, and banks, all obstacles were successfully overcome.
“Today, five years after the commissioning of the project’s initial components, we can confidently say that we are more than satisfied because this project plays a crucial role in achieving record business results for CGES,” Knežević concluded.
He regarded the project as an example of how collaboration between financial institutions and energy companies can result in tangible, sustainable, and long-term benefits for the community.
“We have seized this opportunity not only to enhance infrastructure but also to increase energy efficiency and security, which are crucial for economic growth and the quality of life for all our citizens,” Knežević noted.
The CGES delegation included Dragan Perunović, Director of Development and Investments, and Nikola Mugoša, Assistant Director of Elektroprenos. Representing EBRD, the delegation included board members Rosmarie Schlup, Yasemin Girici, Shigeto Hiki, Katherine Allen, Miglė Tuskienė, Andrew Smith, Alon Messer, Karina Karaivanova, and Jan Willem van den Wall Bake.
From EBRD management, the Lastva substation was visited by Matteo Colangeli, Regional Director for the Western Balkans, Remon Zakaria, Head of EBRD in Montenegro, Oleg Levitin, Head of Political Affairs, and Isida Konomi, from the Board and Institutional Affairs.
