Hungary’s Gemtech eyes 10 MW solar project in Albania's Fier

The solar park will not operate under a concession contract with the government, nor will it benefit from government incentives, the energy ministry said in a statement last week.

The project’s total investment value has been estimated at 4.6 billion Hungarian forints ($12.5 million/11.8 million euro), according to Gemtech Albania's website. The Hungarian Export Development Agency (HEPA) is supporting the project with a grant of 2.53 billion forints. Annual renewable production is projected at 12 GWh.

The plant was initially due to be launched inl December 2022. A SeeNews email to Gemtech seeking clarification about the reasons behind the delay remained unanswered by the time this article was published.

Gemtech established a wholly owned Albanian unit in 2020 with the purpose to build the 10 MW solar project, according to the Albanian business register.

(1 euro = 391.035 Hungarian forints)