ContourGlobal might begin constructing Kosovo power plant in 2016

05/02/2015 00:54 Electricity Market

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ContourGlobal might begin constructing coal-fired power plant in Kosovo in 18 months, in the first significant investment in the country's energy sector in decades designed for reducing electricity shortages and creating jobs, as stated by an official at the U.S. power firm.

It is estimated that the cost of the project will be around 1.4 billion euros ($1.60 billion), with a third to be supported by ContourGlobal and the rest via loans. The company based in New-York was the single bidder for the plant of 660 megawatts (MW) that will substitute the Balkan country's 40-year-old Kosovo A power plant, perceived as one of the worst polluters in Europe. ContourGlobal Executive Vice-President Garry Levesley declared that if things went well, the digging could start after 18 months. He added that the plant's two units, with 330 MW capacity each, could go online between 2020 and 2021. Their duration would be 40 years. Levesley stated that approximately 10,000 jobs would be created during the construction of the plant which would employ 500 people once it becomes operational. According to him, the project had obtained funds from the World Bank and the European Union. In 2012, Kosovo vended its electricity distribution firm to a Turkish conglomerate. ContourGlobal runs about 4,000 MW in electricity generating capacity in 20 countries.

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