The EBRD is supporting private sector investment in renewable energy generation in Albania with a €5.2 million loan to the Hydro Power Plant of Korca sh.p.k., to finance the construction of two small hydropower plants in the eastern part of the country. 

Albania generates almost all of its electricity from hydropower plants, but has the potential to further increase its domestic production and become a regional player in the energy market. Rehabilitation of the hydropower sector and improvement of energy efficiency and dam safety is one of the country’s priorities.

With the support of the EBRD loan, Hydro Power Plant of Korca will build two plants – Verbe-Selce 1 and 2 – due to become operational next year. With a combined capacity of 5 MW, the two plants will generate up to 23 GWh of electricity per year and help offset over 17,400 tonnes of CO₂ annually. 

EBRD is among the supporting organizations of this year’s Southeast Europe Business Forum (SEEBF). The event will take place in Istanbul Congress Center on 22-23 November 2012. The purpose of the forum is to encourage the business networking among the companies in Southeast Europe. SEEBF is a joint initiative of key institutions from the following countries: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Greece, Montenegro, Romania, Serbia, Turkey.

More than 300 CEOs, Managers and Officials from all SEE countries are expected to take part in the forum.

Source: EBRD

Photos by: Power Plants Around the World