The European Bank for Reconstruction and Development (EBRD) has announced that it will be providing EUR29 million (US$32 million) in financing to an Albanian special-purpose vehicle which is owned by Voltalia. The fund will be used to construct the 140 MW Karavasta solar project.
The facility, which is set to cost EUR135 million (US$148.7 million) in total, will be co-financed by the International Finance Corporation, Intesa Sanpaolo Bank Albania, Privredna Banka Zagreb, and Voltalia’s own resources.
EBRD is the key investor in this project and will anchor the EUR99 million (US$109 million) financing structure. It is also leading the mobilization of commercial debt participation. This project is significant for Albania because it represents the country's first large-scale utility solar photovoltaic plant, and it was created based on the nation's first competitive auction for solar power.
Country updates
-
-
July 11, 2022
Statkraft launches final stage of 2 MW floating solar PV project in Banja reservoir
Statkraft has started the final phase of the 2 MW floating solar photovoltaic farm located in Banja reservoir in southeastern Albania. The four floating units contain over 6,400 solar...
Read more -
July 04, 2022
Voltalia launches construction of 140 MW solar PV PPP project in Karavasta
Voltalia has announced the start of the construction of its 140 MW Karavasta solar photovoltaic farm in Albania. Voltalia will sell half of the power produced by the solar plant to the Alb...
Read more -
June 27, 2022
SPV BLUE gets license to build 50 MW solar project in Fier
The Energy Regulatory Authority (ERE) has authorized local firm SPV BLUE 1 to develop a 50 MW solar photovoltaic power plant in Fier, Albania. The solar plant must be operational by July 2023 in...
Read more -
April 28, 2022
Statkraft resumes operations at 500 kWp floating solar PV project in Banja reservoir
Statkraft has reopened the first unit of its floating solar plant, which is located at the Banja reservoir in southeastern Albania, following an incident last summer. Ocean Sun, the Norwegian fl...
Read more -
January 04, 2022
AGA-SOLAR development permit for 150 MW solar project in Fier
Renewable energy developer AGA-SOLAR has submitted its application for a development permit to build a 150 MW solar photovoltaic project in the village of Darzezë e Re near the southwestern...
Read more
