French renewable energy company Voltalia has reported that its Karavasta solar power plant in southwestern Albania generated 218 GWh of electricity in the first nine months of 2024. In the third quarter alone, the plant produced 82 GWh of clean energy.
The 140 MW solar power plant, located near Fier in southwestern Albania, began trial operations in December 2023. It covers an area of approximately 200 hectares and is expected to meet the annual electricity needs of around 220,000 people. The plant will also contribute significantly to Albania’s environmental goals, helping to offset over 29,160 tons of CO2 emissions every year.
Voltalia won the contract to build, operate, and maintain the Karavasta plant after being awarded a tender in January 2020. The Albanian government signed a 30-year concession agreement with Voltalia in August 2020 for the project. Under the terms of the agreement, Voltalia is required to sell half of the electricity produced by the plant to the state-owned electricity distributor OSHEE at a price of 24.89 euros/MWh for 15 years—substantially below the market ceiling of 55 euros per MWh. The remaining half of the electricity generated by the plant will be sold on the open market.
Voltalia’s Karavasta project is part of the company’s broader commitment to expand its renewable energy portfolio and contribute to Albania’s green energy transition. The plant is a key step in Albania’s push toward increasing the share of renewable energy in its national grid and reducing its reliance on fossil fuels.
The solar plant’s successful operation in 2024 underscores the growing role of solar energy in Albania’s energy landscape, and its potential to help meet European and global climate goals.
