The European Bank for Reconstruction and Development (EBRD) is assessing a significant financing opportunity aimed at bolstering Albania’s renewable energy landscape. The proposed loan package of 53 million euros is directed towards two special purpose companies, jointly established by Blessed Investment and Matrix Konstruksion, to facilitate a comprehensive solar and battery storage project.
This initiative represents an estimated total investment of approximately 105 million euros, integrating utility-scale solar power generation with cutting-edge battery storage technology. It is poised to emerge as one of the first large-scale solar-plus-storage projects in the region, operating under market-driven conditions, thereby setting a precedent for future developments.
The project encompasses a substantial capacity of 160 MW from solar energy alongside a 60 MW battery energy storage system. While certain components of this development are already operational, additional phases are either under construction or in the preparatory stages, indicating a progressive approach to expanding Albania’s renewable energy capabilities.
Specifically, the solar complex includes the Blue Solar 2 and Blue Solar 3 projects situated in Fier municipality. The initial phase of Blue Solar 2, which has been completed with an installed capacity of 64 MW, is currently generating electricity commercially. In contrast, the second phase, contributing an additional 55 MW, is still under construction. Meanwhile, the Blue Solar 3 project is in its preparatory phase with a capacity of 43 MW.
In terms of energy storage, the project plans to implement a 30 MW battery system with an impressive storage capacity of 80.25 MWh within the existing infrastructure of the Blue Solar 2 substation. Furthermore, plans are underway for a new 220 kV transmission line that will connect these facilities to Albania’s national electricity grid, enhancing overall energy distribution efficiency.
Project documentation indicates that this investment may also receive risk protection support through the European Fund for Sustainable Development Plus Hi-Bar guarantee mechanism. This initiative aims to stimulate investments in renewable energy and strategic infrastructure projects across Southeast Europe, highlighting Albania’s commitment to sustainable energy development.
