Montenegrin electricity transmission system operator CGES reported a net profit of 16.7 million euros for the first nine months of 2025, slightly lower than the 17.4 million euros recorded during the same period last year. The company’s net sales reached 69.3 million euros, representing a 2.8 percent decrease compared to the same period in 2024. […]
Montenegrin electricity transmission system operator CGES has initiated a procurement process for two 400/110 kV, 300 MVA power transformers, marking the beginning of a 36 million euro modernization project for the Brezna substation in northwestern Montenegro. The upgrade will convert the current 110/35 kV installation into a three-voltage 400/110/35 kV facility, which will be connected
Montenegro: CGES declares 5 million euro dividend amid continued investment plans Read More »
Montenegrin electricity transmission system operator CGES will distribute a gross dividend of 5 million euros to its shareholders, following approval at the company’s annual general meeting. The dividend payout comes after financial statements confirmed a net profit of 24.8 million euros for the previous fiscal year. The remaining 19.8 million euros will be retained as
Montenegro: CGES doubles Q1 profit in 2025 on higher revenues and stable costs Read More »
Montenegro’s electricity transmission system operator CGES posted a net profit of 7.7 million euros in the first quarter of 2025, nearly doubling the 3.9 million euros recorded in the same period last year. According to the company’s financial report, net sales in the first three months of 2025 reached 25.9 million euros, representing a 12.6
Montenegrin electricity transmission system operator, CGES, reported a net profit of 24.8 million euros in 2024, marking a decline from the previous year’s net profit of 35.7 million euros. The company’s net sales for the year amounted to 97.7 million euros, a 9.9% decrease compared to 2023. Despite the drop in revenue, operating expenses were
SEE region: Possible solutions for transmission network challenges Read More »
Serbia’s new rules for connecting solar parks and wind farms to the transmission system, operated by Elektromreža Srbije, are a test for both the state-owned company and investors, according to participants at Belgrade Energy Forum. At a panel discussing possible solutions to grid challenges, speakers said the goal is to ensure that the energy transition
