Austria’s Verbund has signed a power-purchase agreement for Albania’s 72.6 MW Spille Wind Park, the first project selected in the country’s first wind auction to reach construction readiness. Spille has secured all permits and prerequisites for construction, with commercial operation targeted for the first quarter of 2028.
The project is seen as evidence that the auction can progress from policy design to physical assets. Albania’s 2023 auction awarded 222.5 MW, more than double the initial 100 MW on offer, under 15-year contracts for difference prepared with support from the European Bank for Reconstruction and Development.
Wind power could diversify Albania’s electricity production, which relies heavily on hydropower and is vulnerable to rainfall variability. Wind can provide a different production profile, while Verbund Green Power and Nordex may establish a turbine-supply framework covering up to 700 MW across several European markets, including Albania.
The Bank of Albania has presented a draft national green taxonomy developed with support from the European Investment Bank. It could give lenders clearer eligibility and risk criteria for assessing sustainability claims.
The taxonomy is relevant as Albania moves from hydro-dominated public assets toward more private financing for wind and solar. The World Bank estimates that the country needs about $6 billion in climate-adaptation investment over the next decade.
