French renewables company Voltalia is set to build and operate a 140MW solar plant in Albania.
The announcement comes after a solar tender was awarded to the French developer – it plans to sell half of the green energy produced to the Albanian state at a subsidised rate of €24.89 (£22.31) per MWh, while the remainder will be sold in the Albanian energy market at internationally competitive prices.
The country in Southern Europe currently receives its energy from hydropower. This causes Albania to import electricity on occasions of limited or no rain.
Matteo Colangeli, European Bank for Reconstruction and Development (EBRD) Head of Office in Albania, said: “Albania has great potential in solar. This first project will diversify the country’s energy sources, increase its resilience to climate change and bring in much needed foreign investment.”
EBRD will provide technical assistance and policy support the develop the solar project in Albania.