News

Agreements with Germany include funds for dam security

Published

July 13, 2015

Comments

0

Share

Published:

July 13, 2015

Comments:

0

Share

The parliamentary Law Commission approved the ratification of two cooperation agreements between Albania and Germany in the energy field, Albanian Telegraphic Agency said. According to the deputy Minister of Energy and Industry Ilir Bejtja, for the first time an efficiency fund will be established through the bank system, to support investments in saving energy at small and medium sized opportunities, in houses and municipalities, portal Invest in Albania reported. The second agreement is a grant for the maintenance of Drini cascade.

Ahead of chancellor Angela Merkel’s official visit on July 8, six financial cooperation agreements were signed by German ambassador Helmut Hoffman and Albanian vice premier Niko Peleshi and ministers of finance and economic development Shkëlqim Cani and Arben Ahmetaj. The deal consists of Germany’s grants of EUR 1.5 million and loans of EUR 106 million, Associated Press said.

Most funds will go to the electricity sector, with EUR 40 million for monopoly power producer KESH and EUR 20 million for security of hydropower dams, Reuters reported. Development projects are underway to improve water and power supply as well as waste water systems.

Related Articles

Earth Day 2024 Planet vs. Plastic

Earth Day 2024: Planet vs. Plastics

20 April 2024 - The Earth Day has been celebrated every April 22 since 1970. This year’s theme is...

Record low power prices and curtailments threaten renewable investments in Greece, Spain

Curtailments, record-low power prices threaten renewables investments in Greece, Spain

20 April 2024 - Renewable energy developers have underestimated the effects of curtailments and low wholesale prices

north macedonia power exchange memo coupling eu brussels shutinoski

North Macedonia eyes first market coupling with some EU member state in 2026

19 April 2024 - Coupling electricity markets with EU countries is very important for the EU membership candidate states, MEMO CEO Simon Shutinoski said

Power-utilities-Greece-Cyprus-home-PV-systems-in-installments

Power utilities in Greece, Cyprus allow home PV systems to be paid in installments

19 April 2024 - Greece and Cyprus have enabled the installation of home PV systems to be paid in installments and without upfront costs