TIRANA (Albania), June 10 (SeeNews) - Albania's government has approved plans for the construction of two photovoltaic (PV) power plants with a combined installed capacity of 40 MW in the Korca region, local media reported.
The planned solar power plants, of 20 MW each, will be built by private local investors, news provider Exit reported on Thursday, citing infrastructure minister Belinda Balluku.
The names of the investors remained undisclosed.
The Albanian government has also approved a draft decision for an agreement for the development and production of hydrocarbons in the Frakull and Povelce gas fields. The two gas fields, currently owned by state-owned crude oil and gas extracting company Albpetrol, will be transferred to private entities, Balluku said.
However, the government will invest some $500,000 (470,100 euro) during the exploration phase of the project, according to the report.
Albania produces over 90% of its electricity from hydro power plants, most of which are located along the Drin river, in the northern part of the country.
($ = 0.9401 euro)