EU finances green energy in Albania/ Aims to modernize Fierza HPP and digitalize substations
The Operational Board of the Western Balkans Investment Framework has approved an investment package of 87.7 million euros, financed by the European Union, to support clean energy in Albania, Serbia and Montenegro.
Within the framework of the EU Growth Plan for the Western Balkans, these funds will be used to strengthen energy networks, improve existing hydropower plants, as well as for new solar heating solutions, in line with the transition to green energy.
In Albania, one of the main projects is the digitalization of substations of the power transmission system, which aims to increase capacity, reduce losses, and improve network management.
The modernization of the Fierza Hydroelectric Power Plant, one of the most important sources of energy production in the country, will also be financed. The investments aim to improve equipment and systems to ensure sustainable and long-term operation.
Another key link is the construction of the Rrashbull – Tirana Ring Road Overhead Transmission Line, a project that will expand the capacity of the network to meet the growing demand of the capital and improve energy security. Meanwhile, it is learned that another 487.3 million euros are expected to be mobilized for the three countries in energy projects soon.
According to official data, more than 95% of electricity production in Albania comes from hydroelectric power plants, ranking the country among the cleanest in Europe in terms of carbon emissions.
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