Solar power plant will be located in Karavasta in southwestern part of the country.
The French renewables company Voltalia is the winner of the tender for the construction, maintenance and operation of 140 MW SPP, The European Bank for Reconstruction and Development (EBRD) announced.
The statement from the Bank said that under the contract, Voltalia is obliged to sell half the electricity produced at the solar power plant to Albanian electricity distribution company OSHEE at the price of 24.89 euros/MWh for a period of 15 years, less than half the price ceiling of 55 euros, which confirms the value of preparing a tender in line with international best practice. The remaining half will be sold in the market.
The project will help diversify the energy sources of Albania which relies almost entirely on hydropower, increase the country’s resilience to climate change, and bring in much needed foreign investment.
The tender for Karavasta solar power plant was launched in January and over 20 companies submitted their offers. According to initial estimates, the project is worth around 100 million euros.
