The European Bank for Reconstruction and Development (EBRD) is assessing a significant loan proposal amounting to 53 million euros aimed at supporting the development of a major solar and battery storage project in Albania. This initiative marks one of the largest investments in renewable energy within the country in recent years, reflecting a growing commitment to sustainable energy solutions.
With an overall estimated investment of approximately 105 million euros, the project integrates utility-scale solar power generation with cutting-edge battery storage technology. It is poised to become one of the first comprehensive solar-plus-storage developments of its size in the region, operating under market-oriented conditions.
The financing is intended for two special purpose companies in Albania, which are jointly owned by Blessed Investment and Matrix Konstruksion. The EBRD is expected to reach a final decision on this financing arrangement by mid-June 2026, which will be pivotal for the project’s advancement.
This ambitious project encompasses a total installed capacity of 160 MW from solar sources, complemented by a 60 MW battery energy storage system. While portions of this development are already operational, additional phases are either under construction or still being planned.
Specifically, the solar complex comprises the Blue Solar 2 and Blue Solar 3 projects located in Fier municipality. The first phase of Blue Solar 2 has successfully commenced commercial operations with a capacity of 64 MW, while its second phase, rated at 55 MW, is currently under construction. Concurrently, Blue Solar 3 is advancing through its preparatory phase with an intended capacity of 43 MW.
In terms of energy storage capabilities, the project includes a 30 MW battery system with an impressive storage capacity of 80.25 MWh, which will be integrated into the existing infrastructure at the Blue Solar 2 substation. Additionally, plans include constructing a new 220 kV transmission line to connect these facilities to Albania’s national electricity grid.
Project documentation indicates that this investment may also receive risk protection support through the European Fund for Sustainable Development Plus Hi-Bar guarantee mechanism. This initiative aims to stimulate investments in renewable energy and strategic infrastructure projects throughout the region.
