On July 31, the Albanian government and French renewable energy company Voltalia signed the contract for the construction of the Karavasta photovoltaic park.
In late May, it was announced that Voltalia had won the tender for what is expected to be the biggest solar park in the Western Balkans. Almost 30 foreign companies had expressed interest in the project.
Voltalia offered a price of EUR 24.89 per MWh, about 40% cheaper than the maximum price of EUR 55, set by the government.
Minister of Energy Belinda Balluku deemed the company’s offer as ‘extraordinary’. Prime Minister Edi Rama also praised the foreign investment and said that the well-known company will help raise Albania’s profile among French investors.
The Karavasta photovoltaic park will be Albania’s second solar park, following that of Akerni, whose tender took place in 2018. Nonetheless, construction for the park has yet to begin as negotiations with the company who won the tender haven’t concluded yet.