Albania

Albania's green energy future shines bright with the approval of two solar farms, bringing jobs and sustainability to the region.

Albania's latest solar tender aims to construct 300 MW of solar parks, as the country strives to become a net exporter of renewable energy by 2030. Supported by Swiss and European institutions, successful candidates will receive 15-year contracts for their plants' output.

Voltalia reaches milestone with 140-MW Karavasta solar park, helping to offset over 29,160 tonnes of carbon dioxide emissions every year and providing enough electricity for 220,000 Albanian residents.

Voltalia has completed the construction of its 140-MW Karavasta solar park in Albania. 200HA of land will offset 29,160 tonnes of CO2 emissions, enough to meet the annual consumption of 220,000 residents. With a 15-year contract for half its output, Karavasta is part of Albania's goal to reach 54.4% renewables share by 2030.

Albania embraces solar power with the Karavasta power station - 234,828 new solar panels generating 140 megawatts to power homes and protect local species. 53 families will be reimbursed for land appropriation to create this renewable energy facility.

Trina Solar and Voltalia have partnered to build Karavasta Solar, a 140MW solar project in Albania. Funded by EBRD, the project is expected to generate electricity and employment to the local community, with 1% of the total investment going towards social initiatives.

Voltalia has opened a new office in Tirana, Albania with 23 employees to support local growth. The office will provide turnkey solar plant construction services and develop PV and wind projects, including the 140 MW Karavasta solar farm in Fier. Operational in 2023, the farm is backed by a EUR 29 million loan from EBRD.

The government of Albania is dealing with a tender plan to award 300 MW of solar projects under a bigger procurement programme envisaging to promote the release of 1 GW of solar power capacity.

EBRD leads syndicate of IFC, Intesa Sanpaolo Bank Albania, Privredna Banka Zagreb in co-financing Karavasta solar plant in Albania First big utility-scale solar PV plant in the country Financial investment stems from EBRD Renewable Energy Auctions Programme

In the first of the forthcoming three solar energy auctions, Albania is offering power purchase agreements and contracts for difference for 300 MW in total capacity. The call is prepared to be issued by June.

Albania is preparing a public require solar power projects at two former military airports while Slovenia means to develop a public-private partnership at an army barracks in Ljubljana.

The Green for Growth Fund (GGF) will certainly offer a EUR-28-million (USD 30m) car loan to support the construction of a solar plant in Albania standing for the biggest zero-subsidy project of its kind in the Western Balkan Region.

Works on the Erseka Solar Park near Korça in Albania remain in progress. The initial 2 segments are prepared for 40 MW, which would presently make it the largest facility of its kind in the country, and the capacity ought to later on be doubled.

French renewables firm Voltalia's Q2 revenues were up 26% year-on-year to EUR111 million (US$ 113 million) as its project advancement, building and construction as well as devices purchase section continued to grow.

Karavasta project is expected to be commissioned in the second half of 2023