Austrian companies mull over new energy investments

TIRANA, June 12 – Representatives of Austrian companies engaged in energy projects in Albania says they are examining other investment opportunities in renewable energy. In a meeting with Prime Minister Sali Berisha, representatives of Austria’s EVN and Norway’s Statkraft informed on the progress of a Euro 1 billion project which the companies are developing on the Devoll river, southeastern Albania under a concession contract.
“This project is a major step ahead in our strategy to turn Albania into a small energy superpower in the region. The Devoll cascade and our efforts to increase the capacity of hydro-electricity generation are a major effort toward Albania’s sustainable development,” said Prime Minister Sali Berisha.
Ambassador Florian Rauning also expressed Austria’s confidence in Albania which is confirmed by the considerable presence of Austrian companies in Albania. Bank of Albania data rank Austrian companies as the third biggest foreign investors in Albania with Euro 362 million, mainly in the banking and energy sector. Devoll Hydropower Sh.A. (DHP) is an Albanian joint venture between the Austrian company EVN AG and the Norwegian company Statkraft AS. Both EVN and Statkraft are equal owners holding 50% of the shares. This project is currently one of the largest hydropower projects in Europe and will increase the total hydropower production in Albania with 20 percent. The project consists of developing, planning, constructing and operating three hydropower plants along the Devoll river with an installed capacity of approx. 280 MW. By the concession agreement DHP has earned the right to harness the hydrological potential of the Devoll River between 95 and 810 m above sea level, between Banja and Maliq communes. The construction phase is expected to start in the first half of 2013 with the Banj롰ower plant. Austrian companies are also in the final stage of construction of Ashta hydropower plant, Albania’s 48-MW run-of-river projectנthe fourth large hydropower plant on the northern River Drin cascade and the biggest HPP project during the past 20 years. The Euro 160 million project is being implemented by “Energji Ashta,” a 50/50 joint venture between Austria’s Verbund and EVN which are constructing a world innovation in Albania: the largest matrix power plant using small turbines.