50 MWp solar plant in Belsh by KESH - Guarantee agreement for 30 million euro loan from EBRD approved
Parliamentary committees have approved the draft law on the guarantee agreement with the European Bank for Reconstruction and Development, which paves the way for the financing of one of the projects of the Albanian Power Corporation for the diversification of energy production sources.
It concerns the construction of a 50 MWp solar power plant in the Belsh area, for which the EBRD will provide the loan, while the Albanian state is engaged as a guarantor.
Referring to the project, the 50 MWp photovoltaic plant and the associated substation will be built on the territory of the Municipality of Belsh in an area of about 60 ha, while a new line of about 9 km, 110 kV will connect it to the network at the existing substation in Kajan, which will be expanded as part of the project.
The work has a total cost of 40 million euros. 30 million euros will be financed through an EBRD loan, while in April this year the bank announced that the Board approved the loan with a sovereign guarantee.
Meanwhile, the project is also expected to be financed through a grant of 8 million euros from the Western Balkans Investment Framework (“WBIF”) and the remaining 2 million euros, through a capital injection from KESH. The generation of the plant at BELSH is expected to constitute about 1% of the annual national electricity production.
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