October 27 (SeeNews) - Renewable energy project developer CWP Global and General Electric’s wind power arm GE Vernova Onshore Wind have agreed to develop a 1-billion-euro ($1.05 billion) hybrid wind and solar project in Albania, CWP said.
The facility’s combined wind and solar power annual output is projected to cover the needs of 75% of all Albanian households and create 1,500 jobs, CWP said in a press release on Thursday.
The developers are pending social and environmental assessments and the acquisition of all required project permits.
Founded in 2007, CWP is a leading renewable energy developer in Southeast Europe, having developed a 156 MW wind farm in Serbia and a 600 MW wind power project in Romania.
GE Vernova is scheduled to list on the New York Stock Exchange after completing its spinoff in the second quarter of 2024.
($=0.947 euro)