Albania signs agreement for €50 million solar park investment
- Albania's government signed an agreement with the EBRD to finance the construction of a 50 MW photovoltaic park in Belsh.
- The park will provide electricity to over 16,000 subscribers and significantly reduce CO2 emissions.
- This project represents a milestone towards Albania's goal of becoming a net exporter of electricity by 2030.
In Albania, a significant agreement was reached on July 24, 2025, focused on renewable energy development. The Albanian government signed a crucial loan and grant agreement with the European Bank for Reconstruction and Development (EBRD) to finance the construction of a photovoltaic park in Belsh. With an installed capacity of 50 megawatts, this park is expected to provide electricity to over 16,000 subscribers, generating approximately 79 gigawatts of power annually while reducing carbon dioxide emissions by 50,000 tons each year. At the signing event, attended by notable figures including EU ambassador Silvio Gonzato and Albanian Deputy Prime Minister Belinda Balluku, the participants highlighted the importance of this initiative for Albania's energy sector. Balluku noted that enhancing renewable energy production aligns with Albania's ambitions to become a net exporter of electricity by 2030. The EBRD's director for Albania, Ekaterina Solovova, emphasized that the agreement showcases the Albanian government’s commitment to smart energy policies and sustainable practices. Moreover, Ambassador Gonzato announced the initiation of a new EU program aimed at improving energy efficiency in Albania, with funding of 50 million euros allocated from pre-accession funds. This program is designed to enhance energy efficiency in public infrastructure, water facilities, and charging stations for electric vehicles. Gonzato stressed that this assistance further solidifies the EU's commitment to supporting Albania's energy security amidst the global challenge of climate change. The signing of this agreement signifies a partnership built on trust between the EU and Albania, illustrating a shared goal of preparing the Albanian government for the effective management of EU funds in light of its prospective EU membership. Overall, this project, alongside the new energy efficiency program, demonstrates Albania’s proactive efforts in achieving a sustainable and independent energy future.