KESH, 50 MWp solar plant in Belsh - 30 million euro loan approved by EBRD, total cost is 40 million euro
The Albanian Power Corporation aims to diversify energy production sources through the construction of a 50 MWp solar power plant in the Belsh area, while it has recently advanced in securing the necessary financing for the finalization of the project.
The project has a total cost of 40 million euros, while 30 million euros will be financed through a loan from the European Bank for Reconstruction and Development. A few days ago, the EBRD announced that the Board has approved the sovereign-guaranteed loan, paving the way for the signing of the loan agreement and its subsequent disbursement.
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.
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.
According to the EBRD, the energy produced by the plant will be used to increase KESH's generation capacity and fulfill the Public Service Obligation, as currently around 30% of annual electricity consumption is imported. The plant's generation at BELSH is expected to account for around 1% of the country's annual electricity production.
Dollar in 'free fall' – Euro and British Pound recover!
The US dollar has continued to decline this morning compared to yesterday, being bought today at 85.4 lek and being sold at 86.9 lek according to the local......
Plan for 42 electrical substations - Investments, OSHEE: Improvement of electrical systems in Tirana and Durrës
The Electricity Distribution Operator and the German Development Bank (KfW) have signed a financing agreement for the implementation of the “Electricity......
206 million euros for earthquake damages - How much can insurance companies pay? AMF: Reinsurance increased by 4% in 2024
In the past year, gross written premiums that were transferred for reinsurance reached 3.71 billion lek. This value has increased by almost 4% compared to......
"May 11 is the true day of every Albanian" - Berisha, from Puka: In Albania there will be no pension below 200 euros
The Chairman of the Democratic Party, Sali Berisha, declared from Puka that May 11 is a day for a decisive turning point for Albanians to place their dreams......
EU employment hits record levels - Europe registers highest figures since 2005
The employment rate in the EU reached its highest level ever recorded in the fourth quarter of 2024, according to new data from the OECD (Organization for......
Schools damaged by the 2019 earthquake – EU4Schools repairs 59 educational facilities!
In the Municipality of Kavaja, the "EU4Schools" Program has made possible the complete repair and reinforcement of 5 educational facilities damaged by the......
What happens after the Pope dies? - Steps to electing a new successor at the head of the Catholic Church
With the death of Pope Francis, the Catholic Church will begin the elaborate traditional rituals that mark the end of one papacy and the beginning of......
China restricts mineral exports - Critical metal controls "hit" international supply
China's export controls on three metals crucial to the defense and chip sectors are keeping shipments at historically low levels despite high prices......
