Masdar, the UAE-based renewables developer, has entered into a partnership with Albania’s state-owned Power Corporation (KESH) to explore large-scale renewable energy projects in Albania. The agreement outlines a potential collaboration on solar, wind and hybrid energy solutions, with the possibility of integrating battery storage systems.
KESH’s CEO, Erald Elezi, emphasized that this partnership is a significant step toward achieving Albania’s renewable energy objectives and reflects KESH’s commitment to sustainable growth and energy diversification. The collaboration will leverage Masdar’s global expertise and technological resources, alongside KESH’s deep local knowledge and infrastructure. If the partnership moves forward, the generated electricity is expected to be sold domestically in Albania and potentially exported to neighboring countries in the region.
This partnership follows Masdar’s recent acquisition of Terna Energy, a Greek renewables company, which was valued at approximately 3.2 billion euros. Terna Energy has projects in wind, solar, hydro, and pump storage across Greece and Europe, with a target of reaching 6 GW of operational capacity by 2030. Masdar is already active in other Southeastern European markets, including Serbia, where it operates the Cibuk wind farm, and Montenegro, with the Krnovo wind farm. The company is also planning to expand into Romania in partnership with Hidroelectrica.
Masdar’s expansion in the Balkans and broader Southeastern European region highlights its growing role in advancing renewable energy development across Europe, leveraging both its global expertise and regional partnerships.
