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Devoll Hydropower Project to Serve as a Driver for Albanian Economy
Albania accounts for large unexploited Hydropower water resources in the Balkan Peninsula. Albania produces 95% of its energy through hydropower, with only 35% of the river potentials exploited so far.
On April 1, 2009 the Albanian company Devoll Hydropower Sh.A., a joint-venture between the Austrian EVN AG and Norwegian Statkraft AS, was awarded a BOOT Concession to plan, build and operate three hydropower plants on the Devoll River, in the South-eastern part of Albania. The Concession, implemented as an Albanian Law strengthens Devoll Hydropower’s mission to harness the hydropower potential of the Devoll Valley, while respecting social and environmental aspects.
Helwig Überacker, CEO of Devoll Hydropower Sh.A., explains, “EVN has been a valuable partner with its key knowledge and experience in the Balkan region, whereas Statkraft brings a history of expertise in hydropower plant construction and operation. Both of our mother companies have found in Albania a good infrastructure for doing business, surrounded by a friendly and welcoming business atmosphere.”
The hydropower plants will have a combined installed capacity of approx. 280 MW. The project will have a large economic impact for the region and for Albania, and it will be marked as a significant source of green energy. To see Albania well into the future, Devoll Hydropower Project will provide reliable, clean and renewable energy based on European Standards.