KESH's solar photovoltaic park in Belsh, the guarantee agreement passes to the Parliament
Minister of Finance Petrit Malaj has asked the deputies in the Assembly to approve the guarantee agreement with the EBRD for the construction of a solar photovoltaic park by KESH in the Belshi area.
In his speech in the Assembly, Mr. Malaj said:
Another draft law that we bring before you for ratification concerns the approval of the Guarantee Agreement between the Republic of Albania and the European Bank for Reconstruction and Development, regarding the Loan Agreement between the Albanian Power Corporation for the financing of the Solar Photovoltaic Project. This project will be financed by a loan of EUR 30 million from the EBRD and a grant of EUR 9.58 million, provided by the Western Balkans Investment Facility (WBIF), thus significantly reducing the cost of the project and further improving the financial sustainability of the investment.
The construction of a photovoltaic plant with a capacity of 50 MWp in the Belsh area, as one of the regions with the highest solar potential in Albania, represents a strategic step, not only towards modernization, but also towards increasing production capacities based on clean energy.
Since it will be located about 8 kilometers from the Kajan substation, it will utilize the high potential of solar radiation that our country has throughout the year. The support of the EBRD and the WBIF grant makes this project safer, more sustainable and in line with our national objectives. With the construction of this plant, about 1% of the annual energy production will be ensured, or about 2% of the energy consumption in the regulated market. These figures enable the increase in security of supply, the reduction of import dependence and the increase in the management capacities of the hydro reserve of the Drini cascade. In conclusion, let me emphasize once again that the implementation of this project brings substantial benefits, as it increases energy security, promotes economic development, affects the increase in employment and contributes to environmental protection, through clean energy.
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