The Albanian government has awarded a concession to the Italian group Tassara-Geotecna-Kinglor (TGK) to build the third largest hydro power plant in Albania, requiring an investment of US$664M.
The plant, to be constructed on the Black Drin river, near the Skavica villages, is estimated to have a production capacity of 250MW.
Plans for the Skavica project were first prepared in 1978, but was not implemented due to lack of funds. The annual production of electricity from this plant is expected to be approximately 1.8BkWh.
TGK has declared that 70% of the project will be financed through bank loans and the group itself will finance the other 30%.