From: Alice Taylor
EBRD Considers EUR 9.5 Million Loan for Floating Solar Park in Albania

The European Bank for Reconstruction and Development (EBRD) is mulling whether to lend Albanian company Korporata Elektroenergjetike Shqiptare (KESH) EUR 9.5 million for a floating solar panel project that may help reduce the companies reliance on hydropower. 

The 12.9 MW floating PV plant is to be constructed on the reservoir of the Drin River near Vau i Dejes near Shkodra. The EBRD said that the project will strengthen KESHs performance and reduce their reliance on hydropower. This will occur due to the floating plant’s impact on water levels in the existing reservoir.

With a price tag of EUR 13.9 million, the plant has been planned since December 2019 and when completed, it would be the largest plant of its type in the Western Balkans. The power generated through the project would be sold locally within Albania.

Currently, KESH owns the 260 MW Vau i Dejes Hydroelector Power Station which has three hydropower plant units on the Drin river.

Near Elbasan, the construction of Albania’s first floating solar panel park is underway. A project between Statkraft and Ocean Sun, the output of the park will be some 2 MW.

The EBRD had previously given a EUR 9 million loan to support investments in green energy projects in Albania. It was hoped that the loan could facilitate the shedding of some 21,000 tons of CO2 across the region, each year.