Early Warning System

Regions

Europe and Central Asia

Geographic location where the impacts of the investment may be experienced.

Countries

Montenegro

Geographic location where the impacts of the investment may be experienced.

Specific Location

Vilusi, Herceg Novi

Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Proposed

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Dec 4, 2024

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Crnogorski Elektroprenosni Sistem AD

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Energy
Infrastructure

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 20.05 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 18
Converted using 2024-09-30 exchange rate.

Loan Amount (USD)

$ 20.05 million

Project Cost (USD)

$ 20.05 million

Bank Documents

Environmental and Social Impact Assessment

Primary Source

Original disclosure @ EBRD website

Updated in EWS Oct 3, 2024

Disclosed by Bank Sep 30, 2024

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Can you contribute information about this project?
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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the description in the project disclosure page, the EBRD considers providing a sovereign-guaranteed loan of up to EUR18 million to Crnogorski Elektroprenosni Sistem AD (CGES). The proceeds of the EBRD loan will be used to finance the development a new overhead transmission line (OHL) between Vilusi and Herceg Novi with associated substations. This will include: 1) Construction of a new 110 kV OHL Herceg Novi i Vilusi of ca. 38.5 km, 2) Extension of a 110 kV switchyard in Sub Station (SS) Herceg Novi by one 110 kV OHL bay, and 3) Refurbishment of SS Vilusi (including the extension to accommodate the proposed new 110kV OHL).

The main objective of the project is to increase the high voltage transmission network capacity, which is pivotal to the integration of a considerable array of Renewable Energy (RE) power plants with substations Vilusi and Herceg Novi, presently in the preliminary stages of development by private entities. Additionally, the project will significantly contribute to enhancing the stability, safety and security of power supply and at the same time reducing energy losses.

The Project targets the "Resilient" and "Green" Transition Impact qualities, by allowing the integration of new large-scale renewable energy power plants, by increasing safety and security of supply and by reducing the energy losses.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

There is a discrepancy between the investment amount stated in the project description (EUR 18 million) and in the EBRD Finance Summary section of the project disclosure (EUR 13 million).

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the EBRD, CGES is the Montenegrin transmission system operator that owns and operates substations and transmission lines at 400kV, 220kV, and 110kV voltage level. It has a transmission network that consists of 59 lines that are about 1,512 km long. Total transformation capacity comprises 4,166 MVA (with a total of 55 transformer units). The interconnectivity with neighbouring electric power systems includes Serbia, Kosovo, Bosnia-Herzegovina, Albania, and Italy (via the undersea cable).

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Crnogorski Elektroprenosni Sistem AD	Client	Energy

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - Crnogorski Elektroprenosni Sistem AD:

Ljiljana Vucinic
Email: ljiljana.vucinic@cges.me
Phone: +382 20 414 702 / +382 20 414 702
Website: www.cges.me
Address: Bulevar Svetog Petra Cetinjskog br.18, Podgorica, Crna Gora

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html