TIRANA (Albania), September 23 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it is considering extending a loan of 28 million euro ($27.4 million) to French renewables company Voltalia for the construction and operation of the 140 MW Karavasta solar power plant in Albania.
The provision of the loan is expected to be approved on November 2, the EBRD said in a project summary document on Thursday.
The project, which is valued at 125 million euro, is implemented by Karavasta Solar LLC, a special purpose firm established in Albania by Voltalia.
Voltalia started the construction of the Karavasta park in early July. The solar power plant is expected to be commissioned in the second half of 2023.
Voltalia signed a 30-year concession contract with Albania's government to build and operate the Karavasta solar power plant in 2020.
($ = 1.0214 euro)