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Summary: Albania''s renewable energy sector is rapidly growing, with photovoltaic (PV) power plants and battery energy storage systems (BESS) playing a pivotal role. This article explores
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Masdar and state-owned power utility KESH are exploring the development of gigawatt-scale green energy projects in Albania.
The company signed a joint venture term sheet agreement with Albania’s state-owned power utility KESH. They said the aim is to explore the deployment of gigawatt-scale projects in the country. The joint venture would focus on photovoltaics and wind power as well as green hybrid power units, potentially with battery energy storage systems (BESS).
Masdar and state-owned power utility KESH signed a joint venture term sheet agreement to explore the development of gigawatt-scale projects in Albania. The renewable electricity plants, potentially with storage, would supply power to the country and its neighbors.
“Although Albania already benefits from a predominantly green energy mix, this partnership will enhance our energy resilience, improve stability, and open avenues for clean energy exports to the region,” KESH’s Elezi stated.
Namely, the capacities are insufficient to cover Albania’s consumption and increasingly frequent droughts are boosting the need for emergency power imports. So far only the photovoltaic segment has shown solid growth. Albania hosts the largest solar power plant in the Western Balkans – Karavasta.
Prime Minister Edi Rama earlier said the two countries are looking to join forces with Italy to install an undersea power interconnection between Albania and Italy. The project is valued at EUR 1 billion. The company is working on a similar joint venture with Romania’s Hidroelectrica.
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