A country of 440 hydro power plants

TIRANA, Oct 21؏fficial sources from the Ministry of Energy (METE) have made known that the objective of the government is to have some 440 hydro power plants (HPPs) active in Albania by the end of the current four year mandate. Currently, a total of 105 concession contracts have been signed with local and foreign companies to build HPPs of various sizes and power production. The total investment on these contracts amounts to 2.1 billion euro. The biggest undergoing HPP projects are that of Ashta, Kalivac, Devoll, etc.
“Albania will have an extraordinary amount of hydro power to benefit from. More than 440 HPPs will be built to serve this purpose,” METE sources stated.
Only an estimated 35% of the hydro power potential is currently under use. The remaining 65% makes for a very attractive market for foreign investors.
“Albania has a huge hydro power potential, but only 35% of it is in use today. The government is working to boost hydropower production and also exploit alternative energy resources,” the sources said.
The energy sector will remain a priority for the economic growth of the country in the years to come. The government is working to offer a most attractive package of incentives to foreigners who might be interested to invest in the sector.
One incentive would be a higher rate of lending from local banks to possible investors, with international financial institutions serving as a guarantee.
Another incentive would be fiscal benefits, in a country already accounting for one of the easiest and most business friendly fiscal systems in the world.
A third incentive would be the elimination of most bureaucratic barriers and procedures. One-stop energy shops will be established to help investors start their business in the shortest possible time and with minimal costs.