Energy costs for businesses in Albania are competitive with other lower-cost countries in Central and Southeastern Europe.
Country
Electricity prices (Euro) ↓
Czechia
0.423
Poland
0.361
North Macedonia
0.240
Greece
0.210
Romania
0.203
Bulgaria
0.174
Croatia
0.137
Albania
0.112
Serbia
0.104
Bosnia & Herzegovina
0.102
SOURCE: https://www.globalpetrolprices.com/Albania/electricity_prices/
Albania is on a path to becoming a major low-cost energy destination thanks to it abundance of water resources and 300 days of sunshine.
Hydropower
Nearly 97% of the electricity produced in the country is generated by hydropower plants. So far, only 1/3 of the total hydropower potential has been tapped in the country. This has not gone unnoticed. In October 2020, the Albanian Ministry of Infrastructure and Energy announced a deal with US firm Bechtel to construct a 210 MW hydropower plant on the Drin River, a €300-500 million investment.
Solar Energy
Located in Southern Europe, Albania enjoys > 2500 hours of sunshine a year and offers one of the best destinations for solar energy production. In August 2020, Voltalia, a French firm, was awarded concessions to build a 140MW photovoltaic park in the country. Half the energy production of the plant will be offered at a fixed price of €0.025/kWh.
Nearly 97% of the electricity produced in the country is generated by hydropower plants. So far, only 1/3 of the total hydropower potential has been tapped in the country. This has not gone unnoticed. In October 2020, the Albanian Ministry of Infrastructure and Energy announced a deal with US firm Bechtel to construct a 210 MW hydropower plant on the Drin River, a €300-500 million investment.
Solar Energy
Located in Southern Europe, Albania enjoys > 2500 hours of sunshine a year and offers one of the best destinations for solar energy production. In August 2020, Voltalia, a French firm, was awarded concessions to build a 140MW photovoltaic park in the country. Half the energy production of the plant will be offered at a fixed price of €0.025/kWh.
SOURCE:
https://cordis.europa.eu/article/id/124474-renewable-energy-potentials-of-albania https://balkangreenenergynews.com/bechtel-albania-sign-mou-on-construction-of-hpp-skavica/
https://balkangreenenergynews.com/albania-inks-concession-with-voltalia-for-karavasta-solar-power-plant/
https://cordis.europa.eu/article/id/124474-renewable-energy-potentials-of-albania https://balkangreenenergynews.com/bechtel-albania-sign-mou-on-construction-of-hpp-skavica/
https://balkangreenenergynews.com/albania-inks-concession-with-voltalia-for-karavasta-solar-power-plant/
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