Norwegian companies show interest in hydro-electricity investment

TIRANA, Nov. 14 – With hydropower on top of the government agenda to attract more foreign direct investment and make use of the country’s plentiful water resources, more Norwegian companies are showing interest in investing in Albania. This was reconfirmed this week during a joint business conference held in Norway where Prime Minister Sali Berisha invited Norwegian companies to consider investing in hydro-electricity and ITC, unveiling Albania’s favorable business environment.
The Norwegian based European leader in renewable Energy, Statkraft, has together with the Austrian based leading utility company EVN, signed a concession agreement with the Albanian government in Tirana which awards them the right to develop a hydropower project on the Devoll River in Albania to the value of one billion euros. This project is currently one of the largest hydropower projects in Europe and will increase the total hydropower production in Albania with 20 percent.
Attending the forum in Norway were representatives of about 50 companies from the two countries as well as big Norwegian companies that have invested or plan to invest in Albania like Statkraft, Statoil, Hydroplan Green World, Pasco energy, Westcon Technology, Accenture and GIEK.
Speaking to reporters after the forum, Berisha appreciated the proceedings of the forum as a notable success and said he was encouraged by the great interest of the numerous Norwegian companies to invest in Albania in the field of energy.
“Norway is a leading country in Europe in production of hydro energy and building of the hydropower stations worldwide. Their main energy enterprise has invested in Albania in the biggest project in Albania and in fact even in Europe, Devolli cascade. We are greatly interested in other Norwegian companies to take part in construction of the hydropower stations in our country as Albania is determined to progress towards a green future.”
“I feel very much encouraged by Norwegian companies’ interest in the cascades of Mat, Librazhdi Rivers, but even other cascades. Likewise, the first direct negotiations I had with the Statkraft Co. about Banja hydropower station were quite important. Statkraft Co. is inviting tenders on civil works next January as all studies have already been carried out. During the meeting we discussed on building the new road to reach Gramsh district and I ensured them that the government is set to approve soon the project of building the road and eager for kicking off works so that the local citizens of Gramsh move along a road of panoramic view at the shores of the lake.”