TIRANA, Dec 4 /ATA/ Minister of Finance Petrit Malaj presented to Parliament the draft law for the ratification of the Guarantee Agreement between the Republic of Albania and the European Bank for Reconstruction and Development (EBRD), concerning the loan agreement of KESH sh.a. for the financing of the Photovoltaic Project in the Belsh area.
The project will be financed with a €30 million loan from the EBRD and a €9.58 million grant from the Western Balkans Investment Framework (WBIF), significantly reducing investment costs and enhancing the project’s financial sustainability.
Malaj emphasized the importance of diversifying Albania’s energy sources, which currently rely heavily on hydropower capacity. ‘The construction of this plant will enhance supply security, reduce reliance on imports, and contribute to the use of clean energy,’ Malaj stated.
The photovoltaic plant will have a capacity of 50 MWp and will be built in one of the areas with the highest solar potential in the country, approximately 8 km from the Kajan substation, maximizing solar radiation throughout the year. The project is expected to provide around 1% of annual energy production and about 2% of energy consumption in the regulated market, while contributing to the enhancement of the Drin cascade’s hydropower reservoir management capacities.
Minister Malaj emphasized that this investment will bring multiple benefits to the Albanian economy, including increased employment, enhanced energy security, and environmental protection, and he called for the ratification of the draft law in Parliament.
The project represents a strategic step towards modernizing the country’s renewable energy production capacities, supporting the energy transition and the sustainable development of the energy sector.
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