Banks invited to support HPP construction

TIRANA, March 21 – Prime Minister Sali Berisha has invited big international banks to support the financing of small hydropower plants to make Albania what he called a small energy superpower in the region. Speaking at a conference on the improvement of legal framework on renewable energy in Albania organized by the Economy Ministry in cooperation with the IFC, Berisha described renewable energy as a priority, praising the country’s plentiful water resources.
“I invite big banks to follow IFC’s example and seriously consider the financing of these projects for the private sector, which is a big contribution to the country’s sustainable development and Albania’s big exporting potentials,” said Berisha.
Since approving a law 3 years ago, government has signed 220 concession contracts for the construction of small, medium-sized and big hydropower plants. According to Berisha, government will sign contracts to build some 450 other medium and big HPPs and thousands of small ones.
Wind and solar energy are also being considered as resources to diversify electricity production in Albania.