India Power-led tie-up wins tender for 100 MW solar park in Albania

12/11/2018 11:22 Solar

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Albania’s energy ministry said it has selected a consortium led by India Power Corporation Ltd for the construction of a 100 MW solar park worth 70 million euro ($79.3 million) in Akerni area, near the southwestern port city of Vlora.

The tie-up comprising India Power, Mining Resources FZE based in the United Arab Emirates and Hong Kong-based Midami Ltd offered a combination of technical and financial credibility, price and additional capacity, the energy ministry said in a press release on Saturday.

 

“The winning bid provides energy price of 59.9 euro/MW for a 50 MW capacity for 15 years and an additional capacity of 50 MW (100 MW in total) without support for energy purchases,” the ministry noted, adding that the construction of the solar park must be completed in 18 months.

 

According to the ministry, the auction is successful because it has secured one of the lowest prices in the region for solar energy (Greece - 63 euro/MW, Turkey - 62 euro/MW) and also below average import prices.

 

The ministry said that it will immediately start negotiations on the contract in order to implement the Akerni project as soon as possible. The results of the process will encourage the ministry to hold similar auctions in the near future for projects in other areas of Albania that offer good potential for production of solar energy.

 

Albania produces over 90% of its electricity at hydro power plants. Most of it is generated at three power plants built on the Drin River, in the northern part of the country.
Source: seenews.com

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