Two Companies Eyeing Karaburun in Albania for Wind Farm Investments
/2nd May 2018, Scan TV, RENEWABLE MARKET WATCHTM/ The first proposals for investments in wind farms have been submitted to the Albanian Ministry of energy and Infrastructure. The institution announced that the first applications for the wind farm construction were submitted by EURUS ltd and WF ENERGY ltd companies, Scan TV reported. Each of the companies expressed interest in investing in renewable energy in Albania. Moreover, investors say that the optimal site for the wind turbine construction would be a 450,000 square meters area in Karaburun Peninsula, Vlora area. The farm's installed capacity is proposed to be 10 MW which is higher compared to the installed capacity of most applications for hydropower and photovoltaic plants that have an installed capacity of 2MW. The Albanian energy regulator (ERE) in August 2017 has set a regulated tariff for wind projects with a capacity of up to 3 MW and PV projects with a capacity of up to 2 MW revealed Western Balkans Wind Power Market: Outlook 2017÷2026.
Moreover, the investment project value is estimated Euro 20.83 million or ten times higher than the value of a photovoltaic plant. However, the Karaburun Peninsula is part of Karaburun-Sazan National Marine Park. In the meantime, another application for the construction of a photovoltaic plant in Sheq Marinas, in Topoja Fier region. The project proposal has a value of Euro 2 million, and it will be installed in an area of three hectares.
The Albanian government supports renewable energy projects. Albania is very rich in renewable energy sources, which, along with the relatively low construction prices and labour force salaries, makes it very attractive to investors. Historically, most of the country’s electricity needs have been generated by hydropower plants, although the increased demand has led to regular power shortages. Unfortunately, climate change will likely harm hydropower production in the years to come, reducing average electricity output from Albania’s hydropower plants by up to 15% according to the Albanian Investment Development Agency. For this reason and the Government’s will to reduce Albania dependence on energy imports, the national energy policy is focused on diversifying its energy supply and promoting other forms of renewable energy – such as solar, wind, and biomass energy. Albania has considerable wind power potential, in particular along the Adriatic coast.
For more information about Albanian wind power market, please visit:
Western Balkans Wind Power Market: Outlook 2017÷2026
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