The special purpose vehicle Blue 2, a joint venture between Matrix Konstruksion and Blessed Investment, has secured financing to build a 50 MW solar power plant near Fier. The project is supported by a syndicated loan of €20 million.
Tirana Bank, serving as the lead of the syndicate, is providing the largest portion of the loan. Additional financing comes from Union Bank, as well as the Albanian branches of Italy’s Intesa Sanpaolo and Hungary’s OTP Bank.
Blue 2 represents the second half of a larger 100 MW solar project managed by the same joint venture. The development is split into two equal phases, each with a capacity of 50 MW. The first phase, Blue 1, began operating in May 2024 after securing €28 million in funding from the Green for Growth Fund (GGF).
With Blue 1 already generating electricity, Blue 2 continues the partnership’s efforts to expand renewable energy capacity in Albania, further strengthening the country’s growing solar sector.
