114 million euros of investments in the energy sector - 3 agreements with Germany signed, 90 million euros of loans and 24 million euros of grants
114 million euros will be invested in the energy sector over the coming years. The Minister of Infrastructure and Energy, Enea Karakaçi, and the German ambassador to our country signed financing agreements of 90 million euros in loans and 24 million euros in grants, while in a presentation after the signing ceremony, Karakaçi shared the projects where the investment will be made.
According to the minister, the projects include the transmission system, the Vau i Dejës hydroelectric power plant, and the reconstruction of the Student City dormitory buildings according to energy efficiency principles.
"The first agreement is related to energy efficiency in the transmission system. We are digitizing the entire transmission system, giving us the opportunity to automate all processes related to the interconnection of substations and energy operation. The other agreement is related to the rehabilitation of the Vau i Dejës hydropower plant, one of our most important public energy works, which again, with the help of KfW and the German government, has a commitment to be rehabilitated and now this agreement is a continuation of the good work that has been done so far, again with the German government and KfW, for the rehabilitation of this hydropower plant. And the last agreement, the agreement related to the 'Student' city and the rehabilitation under the framework of energy efficiency of student dormitories. There is a 24 million euro grant from the German government through KfW, regarding these facilities, which again go to the public good, go to students, for a lifetime "better, and a better learning process, but also in terms of energy saving, since all the facilities there are energy efficient ," said Karakaçi.
Meanwhile, the German ambassador praised the cooperation with the Ministry of Infrastructure and Energy, adding that such investments are made to benefit the Albanian people.
These are not the only investments financed by the German KfW in the energy sector, as other areas where Germany has provided financial support are waste management, wastewater treatment, etc.
Does the financial criterion "burn" municipalities? - The new administrative-territorial reform, the assessment of economic performance
One of the main criteria on which the new administrative-territorial reform has been drafted, where 15 municipalities are planned to be merged, is......
Diaspora seeks a safer business climate - Bialczak: More protection for investors must be guaranteed
The interest of Albanian entrepreneurs in the United States to invest in Albania remains high. However, according to entrepreneur Marsilda Bialczak, many of......
180 new textbooks in September for grades I, VI and X - Osmani: 15 thousand teachers trained to implement the new curriculum
The curriculum reform will bring 180 new textbooks to the education system for students in the first, sixth and tenth grades. Deputy Minister of Education,......
Solar plant at Zadeja dam - KESH seeks license for 8.25 MW photovoltaic park in Vau e Dejës
The Albanian Electric Power Corporation has applied to the Energy Regulatory Authority for licensing the activity of producing electricity from the......
Taxes and customs duties of 417 million euros are forgiven to businesses - Balance/ Cancellation of obligations, benefiting over 165 thousand entities in the country
The Tax and Customs Administration has so far written off nearly 39 billion lek or 417 million euros in business liabilities, including principal, fines and......
Global income map, here is where Albania is / The World Bank ranks us among upper middle-income economies
The World Bank has published its latest ranking of economies by income level, with Albania continuing to be ranked in the upper middle income group. The......
Consumer confidence indicator increases - Cheaper prices expected in the future
The economic sentiment indicator fell by 1 point in July, but the value remains 5.4 points above the long-term average. According to the Bank of Albania......
The week starts negatively for the major currencies – Dollar, Franc and Pound weaken
The US dollar has started the week negatively, recording a decline in value compared to the previous week, being bought this morning for 80 lek and being......
