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Albania Seeks Private Investment in Low-Carbon Energy Projects

AlbaniaPosted by Chambers of Commerce Sweden - Southeast Europe Sat, May 19, 2012 16:03:41

Albania is trying to attract private investors to its power market as it diversifies energy sources and privatizes some of its infrastructure. The government, which awarded 5.2 billion euros ($6.6 billion) in wind power and hydroelectric contracts in the past four years, will support natural gas pipeline projects and processing plants, according to Enno Bozdo, deputy minister for economy, trade and energy.The Adriatic nation of about 3 million people wants to curb reliance on hydropower, which accounts for 98 percent of its domestic electricity production. Albania offers incentives including tax exemptions for clean-energy activities and a faster permitting process to attract investors, he said. Ten licences for 1,700 megawatts of wind power have been awarded, and 125 hydropower agreements worth 1,500 megawatts since 2008. Read more here in this article from Bloomberg Newsweek.

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