January 10 (SeeNews) – The European Union and the European Bank for Reconstruction and Development (EBRD), together with Albania’s government, will jointly finance a 41.8 million euro ($45.7 million) project for the construction of a 50 MW solar photovoltaic park in the municipality of Belsh, the country’s energy ministry said on Wednesday.
The EBRD is expected to provide a loan of 30 million euro towards the cost of the project, whereas the EU’s Western Balkan Investment Framework (WBIF) will grant 9.6 million euro, the ministry told SeeNews in an emailed statement. The government will contribute some 2.2 million euro.
The solar park is being developed by Albania’s state-owned energy corporation, KESH. It aligns with the country’s energy strategy 2018-2030 that puts an emphasis on diversification of energy sources with a focus on renewables and solar projects specifically.
The Western Balkans Investment Framework (WBIF) is a joint initiative of the EU, financial institutions, bilateral donors and beneficiaries, aimed at enhancing harmonisation and cooperation in investments for the socio-economic development of the region and contributing to the European perspective of the Western Balkans.
($=0.913 euro)
