News

KESH to clear debts to hydro plant operators by end-June

Published

May 11, 2015

Comments

comments icon

0

Share

Published:

May 11, 2015

Comments:

comments icon

0

Share

Albanian Power Corporation (KESH), state-owned power utility, will clear its debts to private hydropower plants within the first half of this year, according to the Ministry of Energy and Industry (MEI), Albanian Telegraphic Agency reported. The remaining total arrears of less than ALL 2 billion (EUR 14.2 million) will be settled by the corporation’s finance sector without seeking bank loans or financing from the state budget, according to the report on Albreporter.info portal.

Increased liquidity and energy sector reforms will address the financial woes of the country’s energy sector, while the power utility is settling the electricity bills within contractual deadlines with the private hydro plants. In 2014, the accumulated debt to privately-owned power utilities totalled over ALL 6.5 billion and the last month’s payments enabled repayment of arrears accumulated until September of 2014.

According to Energy Minister Damian Gjiknuri, the energy system reform is entering a new intensive stage after the adoption of the new law on the energy sector, with increased liquidity and reforms creating more opportunities to address the sector’s financial problems.

Related Articles

IHA Turkey 2024 hydropower additions highest Europe again

IHA: Turkey’s 2024 hydropower additions highest in Europe again

03 July 2025 - The world's hydroelectric capacity increased 1.7% last year to 1.44 TW, the International Hydropower Association said in its annual report

boksic solar power plant battery

Project underway for 99 MW Bokšić solar plant with battery storage

03 July 2025 - The Bokšić solar power plant project includes a battery energy storage system, BESS, with a capacity of 70.8 MWh.

YEO Defic Globe projects 219 MW Romania rebranding

YEO’s Defic Globe buys projects for 219 MW in Romania amid rebranding

03 July 2025 - Defic Globe, controlled by YEO, acquired 15 project firms developing plans for power plants and battery storage in Romania

HELLENiQ Energy buys ABO Energy Hellas 1 5 GW renewables

HELLENiQ Energy buys ABO Energy Hellas, adding 1.5 GW in renewables projects

02 July 2025 - Amid a consolidation in the renewables sector in Greece, HELLENiQ Energysaid it completed the acquisition of ABO Energy Hellas