February 21 (SeeNews) - Albania plans to invest some 24 billion leks ($187.2 million/177.6 million euro) in its energy sector this year, Albania's state-owned power distributor OSHEE says.
Albania's combined investments in the energy sector in the last three years totalled 45.6 billion leks, according to a statement posted on the OSHEE website.
The investments were made by OSHEE and state-owned power producer KESH and power transmission system operator OST.
Losses in Albania's electricity distribution network were reduced to 28.04% in 2016, from 37.8% in 2015, OSHEE said in the statement.
OSHEE posted a net profit of 11.5 billion leks in 2016, down from 14.9 billion leks a year earlier. Its total revenues fell to 60 billion leks, compared to 65.7 billion leks in 2015, data from OSHEE's website indicated.
KESH ended the year with 1.7 billion leks in net profit, whereas power transmission system operator OST posted a net profit of 1 billion leks, data showed.
(1 euro = 135.115 leks)