Norway’s Statkraft introduces Devoll HPP agenda

TIRANA, April 10 – After taking over 100 percent of shares for the construction of the Devoll hydropower plant, Norway’s Statkraft has introduced its agenda on Albania’s biggest ever hydropower plant, just after the changes to the concession contract were approved in record time by parliament.
“For Albania, the presence and the decision of Norway’s Statkraft to start investments in the in the Devoll cascade is the best news and marks the beginning of the biggest ever energy investment made in Albania,” said Prime Minister Berisha.
Since 2007, the Albanian government has awarded 360 concession contracts to private companies, of which only 50 have already been made operational.
Last month, Austria’s EVN announced its withdrawal from the Devoll hydropower plant in South East Albania, and the sale of its 50 percent stake to its Norwegian joint venture partner Statkraf, remaining present in Albania only with its newly built Ashta HPP.
Devoll Hydropower, a Euro 950 million project, was set up as a 50/50 joint venture between EVN and Statkraft after the two companies won in 2009 a concession to build three hydropower plants on the Devoll River. The Devoll cascade is the largest ever project carried out in Albania. According to earlier estimates, it will cost some Euro 950 million. The Albanian government has recently approved that 278 million lek (Euro 2 million) will be paid to property owners affected by the construction.