Electricity

Bechtel, Albania sign MoU on construction of HPP Skavica

Bechtel-Albania-MoU-on-construction-of-HPP-Skavica

Photo: Signing ceremony (Ministry of Infrastructure and Energy)

Published

October 5, 2020

Country

Comments

0

Share

Published:

October 5, 2020

Country:

Comments:

0

Share

US construction company Bechtel and Albania’s Ministry of Infrastructure and Energy will jointly prepare an action plan for the implementation of the Skavica hydropower plant project. The planned installed capacity of the HPP is 210 MW while investment is estimated in the range of EUR 308 million to EUR 510 million.

The action plan is one of the activities envisaged under the memorandum of understanding for cooperation regarding HPP Skavica signed by the ministry and Bechtel, the ministry said on its website.

The action plans will also include the current status of the technical documentation, the activity plan, the financing models and deadlines

The document will also include the current status of the project’s technical documentation, activity plan, proposed financing models and implementation deadlines.

The MoU followed the signing of the Memorandum of Understanding on Economic Cooperation between Albania and the US

The MoU was signed by the Minister of Infrastructure and Energy Belinda Balluku and the representative of Bechtel, Justin Siberell in in the presence of the Prime Minister Edi Rama and the US Under Secretary for Economic Growth, Energy and the Environment Keith Krach. It followed the signing of the Memorandum of Understanding on Economic Cooperation between Albania and the United States. It was signed by the Krach and Minister of Finance and Economy Anila Denaj.

The ministry earlier said the tender for the construction would be launched in October

In June, the Albanian government presented two scenarios for the construction of HPP Skavica. Minister Belinda Balluku said the government planned to use own funds for the unit and that the works are expected to start next year, after an international tender, to be launched in October.

Support of the US government

After the signing of the MoU with Bechtel, the ministry said the government secured the support of the US government for the construction of HPP Skavica.

The MoU acknowledges Bechtel’s unique and expanded experience in designing and implementing innovative engineering solutions as well as the models for the funding of complex projects, according to the statement.

The two parties also expressed interest, in addition to their cooperation in the design and construction, in developing a funding framework that would be acceptable to the Government of Albania.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment

Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Romania Oltenia switch coal solar power proceeds CO2 permits

Romania’s Oltenia to switch from coal to solar power using proceeds from CO2 permits

16 September 2021 - Romania hopes to get most of the EUR 671 million for solar power plants in coal complex CE Oltenia from the EU's Modernization Fund

undersea power cables connect Europe Africa

Several undersea power cables about to connect Europe with Africa

16 September 2021 - Greece and Egypt are in talks about the possibility to lay a 2 GW submarine interconnector on the bottom of the Mediterranean Sea

Wpd, EFT get government nod for 415 MW wind farm, 80 MW solar facility in North Macedonia viktor andonov

North Macedonia awards strategic investment status to wpd’s, EFT’s renewables projects

15 September 2021 - The Government has awarded a status of strategic investment projects to wpd’s wind farm Virovi and to EFT’s solar PV plant Erdželija.

Macquarie fund 49 stake Greece power distributor HEDNO

Macquarie fund to buy 49% stake in Greece’s power distributor HEDNO

14 September 2021 - An investment firm controlled by Macquarie is a step away from buying 49% of HEDNO in Greece's biggest privatization deal so far.