EBRD finances 12.9MW floating solar project in Albania

Facebook
Twitter
LinkedIn
Reddit
Email
Image: EBRD.

A 12.9MW floating PV plant is set to be deployed at a hydropower reservoir in Albania thanks to a loan provided by the European Bank for Reconstruction and Development (EBRD).

Structured as a project finance loan and provided on a commercial basis, the €9.1 million (US$10.7 million) loan will be provided to a special-purpose vehicle established by state-owned utility Korporata Elektroenergjitike Shqiptare (KESH).

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

According to EBRD, the funding will enable the development of the first floating PV project of its size in the Western Balkans, making KESH more resilient to climate-induced risks in relation to hydrology and seasonality.

KESH owns and operates three hydropower plants in Albania that have a total capacity of 1,350MW. The floating solar project will be installed at the 260MW Vau i Dejës hydropower facility.

The floating plant has the potential to be replicated in the broader Western Balkans region, which has many hydropower reservoirs, according to Francesco Corbo, EBRD regional head of energy for the West Balkans.

“We are delighted to support this groundbreaking project, which is another major step in Albania’s successful drive to boost solar capacity and improve its energy mix. The project is remarkable because of its innovative technology, positive environmental impact and commercial logic,” he said.

Construction work of another floating PV project in Albania kicked off last year, with Ocean Sun hired by Norwegian utility Statkraft to build a 2MW installation at its 72MW Banja hydro plant.

The EBRD has also supported Albania’s solar sector through two auctions: one for a 140MW project and another for a 100MW facility that were both awarded to French renewables firm Voltalia.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

Premium
June 26, 2025
Carlos Rodriguez, Oktoviano Gandhi and Sun Huixuan examine the energy yield performance of different FPV system configurations.
June 24, 2025
FRV has started commercial operations at its 55MW Masrik-1 PV project in Armenia, the largest to enter operation in the country.
June 23, 2025
Q Energy and Velto Renewables have inaugurated Europe’s largest floating solar power plant in the Haute-Marne region of France.
May 28, 2025
The German state of North Rhine-Westphalia has launched a Federal Council initiative to accelerate the development of floating solar (FPV) on artificial lakes.
May 21, 2025
Installation of the anchoring system for what has been badged the world’s first floating offshore solar-wind project has been completed.
May 6, 2025
Building floating PV (FPV) projects on just 10% of the world’s water reservoirs could almost single-handedly meet global electricity demand.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico