Enso hydro GmbH is erecting a small hydropower plant in Albania, financing will be provided by OeEB and the Green for Growth Fund, Southeast Europe (GGF).
Two decades after the end of the communist era, Albania is still one of the poorest countries in Europe. Structural problems have impeded economic growth. Foreign investors remain inhibited by a weak infrastructure and inadequate power supply.
Albania has a high hydro energy potential, of which only 35 percent is currently exploited. At the same time, the country is dependent on energy imports. enso hydro’s new small hydropower plant on the river Lengarica will play a role in improving power availability in the future. The plant will have a capacity of just over 9 megawatts. Average annual power production is projected to reach about 32 gigawatt-hours, enough to power approximately 10,000 Albanian households.
OeEB and GGF will provide EUR 14.1 million in financing, with EUR 5 million coming from OeEB.
For more information please read the full Press Release