The Western Balkans Investment Framework (WBIF) will provide Albania with a grant of 2.6 million euros for the development of a 12.9 MW floating solar photovoltaic (PV) power plant at the reservoir of the Vau I Dejes hydropower plant.
Investment in the project in northwestern Albania is valued at 12 million euros, the WBIF said in a project description. Financing is led by the European Bank for Reconstruction and Development (EBRD) through a 7.48-million-euro loan and the Albanian government will contribute 1.9 million euro.
The solar plant is expected to generate 18 GWh of electricity and reduce carbon dioxide emissions by 8,700 tonnes per year, the WBIF said.
The project is expected to be completed by 2025. It will be the first application in the Western Balkans of pure-float technology, the method of installing floating solar panels directly on the water surface without additional structures.
