May 27 (SeeNews) - Albania's prime minister Edi Rama said that the government will finance the Skavica hydropower plant (HPP) project, estimated at about 350 million euro ($384.9 million), local media reported on Wednesday.
The HPP is to be built shortly on the Drin river cascade in the northern part of the country, Albanian Daily News quoted Rama as saying.
Albania's government failed to award a concession for the plant after the withdrawal of Turkish suitors Suzer and Nurol Holding five years ago.
In early 2019, Albanian power corporation KESH launched a 21-month feasibility study for the construction of Skavica HPP.
Albania produces over 90% of its electricity at HPPs. Most of it is generated at three power plants along the Drin River.
($ = 0.9093 euro)