GGF lends 28 mln euro to Albania's SPV Blue for solar park project

The loan will cover up to 75% of the expenses associated with the project, GGF said in a press release last week.

The project was also supported by GGF's Technical Assistance Facility, the press release read.

The power plant will generate more than 108,000 MWh of clean energy annually, contributing to Albania's efforts to reduce CO2 emissions by 11.5% by 2030 compared to 2016 levels.

In June 2022, Albania's Energy Regulatory Authority (ERE) granted a licence to SPV Blue 1 for the construction of the 50 MW solar power plant, news provider Exit reported at the time.

SPV Blue 1 sh.p.k was founded by local investment firm Blessed Investment and construction company Matrix Konstruksion in 2021.

($ = 0.935786 euro)