Albanian electric utility set to bring a novel SPV technology to the country

Korporata Elektroenergjetike Shqiptare (KESH), the state-owned Albanian power generation company, began development of a EUR 13,9 million floating SPV plant in December 2018. KESH is the leading electricity generation company of Albania and the owner of the country’s three major hydropower plants.

The 12,9 MW floating PV plant will be located at a reservoir of the Drin River near Vau i Dejes, in Shkoder County, Northwestern Albania, and would represent the largest floating project in the Western Balkans. The European Bank for Reconstruction and Development is considering lending EUR 9,75 million to KESH for the construction. The additional renewable energy capacity will bring along climate mitigation benefits to the country.

“The project will strengthen KESH’s operational and financial performance through reduced reliance on hydro revenues and due to the floating technology’s positive impact on the water levels of the existing reservoir”, EBRD explains in the Project Summary Document.