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Albania’s First Solar Tender Generates Competitive Price

Power News - Published on Thu, 28 May 2020

Image Source: Solar Power Albania Voltalia
Albanians will enjoy greater energy security with the success of the country’s first solar tender, won by the French renewables company Voltalia. The winning bid was announced today in a televised event by Prime Minister Edi Rama and Minister of Infrastructure and Energy Belinda Balluku, after the tender went ahead despite the coronavirus pandemic. It follows three years of extensive preparation for entry into the solar market from the EBRD, including technical assistance and policy dialogue to help develop solar power. Under the agreement, Voltalia will build and operate a 140 MW solar plant at the Albanian coastal site of Karavasta, selling half the energy it produces to the Albanian state energy distribution company for a price of EUR 24.89 per MW/hour, with the remaining half sold in the market. This price, less than half the ceiling of EUR 55, confirmed the value of preparing a tender in line with international best practice.

Albania’s energy currently comes almost entirely from hydropower. When there is no rain the country must import electricity, leaving it exposed to climate change.

The investment is a neat fit for Voltalia, which produces electricity from renewable energy sources such as wind, solar, hydro and biomass and is involved in storage. The company said last year it would more than double its installed capacity to over 1GW by 2020 and intended to add another 1.6GW of renewable assets in operation or under construction by 2023. Central to this plan is the diversification of its region of activity beyond its initial focus on Brazil and France. This includes ambitious plans to invest in renewable projects in countries where the EBRD is active.

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Posted By : Yogender Pancholi on Thu, 28 May 2020
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