EBRD, WBIF finance 13 MW floating PV plant in Albania

Investment in the project in northwestern Albania is valued at 12 million euro, the WBIF said in a project description. Financing is led by the European Bank for Reconstruction and Development (EBRD) through a 7.48 million euro loan, whereas the Albanian government will contribute an estimated 1.9 million euro.

The PV plant is projected to generate 18 GWh of electricity and reduce carbon dioxide emissions by 8,700 tonnes per year, the WBIF said.

The project is expected to be completed by 2025. It will be the first application in the Western Balkans of the pure-float technology, the method of installing floating solar panels directly on the water surface without additional structures,

($=0.927 euro)