According to Statkraft, both the companies will hold 50% in the joint venture (JV) company and will build on their experience in the region and will plan, construct and operate the hydropower project.
With the signing of a concession agreement with the Albanian government, EVN and Statkraft were awarded the right to develop the hydropower project on the Devoll river in Albania.
It said that, JV will plan and construct three peak-load hydropower storage plants with a total capacity of approximately 340MW and an average production of approximately 1,000GWh. The overall investment will amount up to E950 million and the plans are expected to be realized in a time frame of around eight years.
Burkhard Hofer, CEO of EVN, said: “We appreciate the possibility to realize the power project with Statkraft, whose experience of hydropower plants gives us confidence that we can realize the challenging plans in Albania.”
Statkraft is a player in Europe within renewable energy. The group develops and generates hydropower, wind power, gas power, solar power and district heating and claims to be a major player on the European energy exchanges.
