Albania secures 32 million euros for vital energy projects

Albania has been awarded funding as part of the European Union’s Growth Plan, securing 32 million euros for three significant projects. The first project, focusing on the digitalization of the electricity transmission system, is designed to enhance the country's electrical infrastructure by modernizing 40 high-voltage substations. This initiative aims to increase the network’s capacity and minimize energy losses. The completion deadline for this project is set for 2030. The second project entails the reconstruction of the Fierza Hydropower Plant, with a goal of extending its operational life by 30 years. This reconstruction is expected to increase the plant's production efficiency by 4% and overall energy production by 10%. The total investment for this project amounts to 64.2 million euros, with EU funding making up 13.6 million euros of that amount. Like the first project, this rebuild is also scheduled for completion in 2030. The third initiative involves constructing a new 400/220 kV Rrashbull-Tirana transmission line and upgrading the Tirana Ring Road, aimed at addressing the rising energy demand in Albania's capital. This project has an expected investment totaling 61.1 million euros, with 8 million euros coming from the EU. Anticipated to conclude within the current year, this project is essential for meeting the energy needs of the growing urban population. Through these projects, the EU's Growth Plan is targeting clean energy initiatives across the Western Balkans, positioning Albania among the largest beneficiaries. With a total investment exceeding 220 million euros, Albania stands to make significant advancements in its energy infrastructure while enhancing economic growth and environmental sustainability in the region.