Kosovo’s prime minister says investors do not need to worry about the safety of their investments and can fully rely on the government’s continued partnership.
PRISHTINA, Jan. 20 – Kosovo’s authorities organized an international conference on energy this week in an effort to persuade foreign investors to build a new power plant worth between 700 million and 1 billion euros.
The new project is a coal-powered plant to be called “New Kosovo.”
Representatives from about 50 foreign companies attended the conference, and Kosovo’s energy minister, Justina Shiroka-Pula, said the government’s aim was to meet the country’s demand for electricity.
“We aim to fully supply Kosovo, its citizens and businesses, with electricity,” she told the conference. “Ensuring full electricity supply is a basic need for national well-being.”
Even through it has major coal reserves, Kosovo continues to suffer from electricity shortages.
Kosovo Prime Minister Hashim Thaci said investors would also have the opportunity to export electricity once Kosovo’s electricity needs are are met.
The new project replaces a previous strategy that envisioned building power generating capacity of more than 2,000 megawatt hours of electricity at a cost of 3 billion euros.
The conference for attracting investment to build new power plant was organized after the government’s decision to modify this project, which followed the withdrawal of two major companies from the tender to build the plant.
The financial crisis and concerns about global warming, according to officials in Prishtina quoted by the BBC Albanian service, have been crucial factors for reducing the production capacity of new power plant.
The plant will produce 500 megawatt / hours of electricity, with the possibility of duplication in the future.
The estimated construction cost of up to 1 billion euros or more is to be co-financed by the government and the winning company.
Prime Minister Thaci invited potential investors to look at the possibility of their participation in the construction of the power plant.
Mr. Thaci said he encourages investors to invest their money in the energy sector of Kosovo, by guaranteeing them that the process of building the new power plant will be clean, legal and transparent.
Mr. Thaci said investors do not need to worry about the safety of their investments and can fully rely on the government’s continued partnership.
A number of potential investors are participating in the international conference being held in Prishtina for attracting investment to build new power plant.
In his speech at the conference of investors, Mr. Thaci said said that the winning company will be selected in the fall.
Energy security is a big issue in Albania too, and the Albanian government has also held similar initiatives to build new energy generation facilities.
