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

12/11/2018 11:22 Solar

news

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

Daily (14.11.2019): EUAs rebounded by 1% on Wednesday, amidst a lack of auction supply and positive economic data

14/11/2019 11:45:00

Crude oil prices inched higher on Wednesday, stimulated by upbeat economic comments from Jerome Powell, the Chair of Federal Reserve. A drop in U.S. crude stocks and a positive outlook on oil markets from OPEC also supported prices. On this background, WTI futures rose by 0.6% to $57.12 a barrel, while Brent crude edged 0.5% higher at$62.37 a barrel.

<READ MORE

Moldovagaz and Gazprom agree new gas supply contract in principle

14/11/2019 08:59:00

Moldovagaz has agreed in principle a 3-year extension to its existing supply contract with Gazprom, the Moldovan company said, Platts reported.

READ MORE

Mirova fund raises €857m for renewables

14/11/2019 08:55:00

Mirova has announced the final close of an €857m fund to invest in clean energy projects.

READ MORE