A 445 km submarine power cable between Italy and Montenegro is currently underway. The project will allow Montenegro to become the energy hub for the Balkan countries. Completion is scheduled for the end of this year. The investment is valued at €1.5bn. The 600 MW submarine cable has been installed at depths of more than 1,000 meters. Luigi Ferraris, the CEO of Terna Group, which is overseeing the project, said that the cable would create conditions for attracting other investments for, among others, the renewable energy sector. The largest project of its kind in the Mediterranean has already brought more than €600m to local businesses in Montenegro.
