EBRD supports KESH's first floating solar PV plant in Albania
The European Bank for Reconstruction and Development has provided a €9.1 million loan to help finance the construction of a 12.9MW floating solar PV project in Albania.
The farm, which will be built on the Vau i Dejës hydropower plant reservoir, will be the first floating solar plant of this size in Albania and the Western Balkans.
It is managed by Korporata Elektroenergjitike Shqiptare. The EBRD loan will be provided to a special-purpose vehicle owned by KESH and established for the purpose of the construction of the project. Structured as a project finance loan and provided on a commercial basis, the EBRD loan is the first such financing by an international financial institution and will contribute to the commercialisation of KESH, one of Albania’s biggest state-owned utilities.
