Shala Energy has inked a concession agreement with the Albania's Ministry of Economy, Trade and Energy for the development of a hydroelectric project on the Shala River.
The proposed project will have an installed capacity of 127.6MW and is expected to be completed within four years of the commencement of construction.
As per the agreed terms, the company will handle construction as well as operation of the hydroelectric plant for the next 35 years, reports the Hydro World.
Total value of the project, including the civil works, equipment, transmission lines and other costs is pegged at $272.7m with 30% of the investment to be provided by Shala’s shareholders.
In addition to the fore-mentioned project, the Albanian government approved the construction of three other, smaller hydropower plants earlier in 2013.