Albania’s Minister of Energy and Industry, Damian Gjiknuri and EBRD Head of Albania, Matteo Colangeli signed a Memorandum of Understanding (MoU) in the capital Tirana with the goal to stimulate investments in solar power generation in the country.
The arrangement will facilitate development of projects in Albania through an auction-based system, in accordance with international best practice. Implementation of the MoU’s roadmap will significantly increase the attractiveness of investments in solar power generation in the country thus reducing Albania’s reliance on hydropower and energy imports.
EBRD Head of Albania, Matteo Colangeli, said that signing this strategic document is a very important step towards establishing solar power generation in Albania. “The government and the EBRD will cooperate in developing and implementing a framework for the allocation, through a competitive bidding process for private investors in the building, owning and operating of solar power projects in Albania with a total combined capacity of 50-100 MW”, Colangeli said on the occasion.
Minister of Energy and Industry, Damian Gjiknuri said that solar energy can also be the strategic solution to reduce the dependence on imports, and improve not only the security of energy supply but also the country’s macroeconomic and political security. Gjiknuri also said that the new support auctioning schemes for renewable energy will add value in the energy sector and the domestic economy.
To date, the EBRD has invested more than EUR 1 billion in 77 projects in Albania.