October 2 (SeeNews) - Norwegian renewable energy company Statkraft is considering the construction of a pumped storage hydropower plant as an addition to its Moglica hydropower plant (HPP) in southeastern Albania, local media reported.
“We have identified a development opportunity that we consider worthy of further consideration. It is in the initial stages of evaluation and involves analysing the development of a pumped storage hydropower plant in addition to our Moglica reservoir,” business and economics news provider Monitor quoted Statkraft country director for Albania, Rigela Gegprifti, as saying.
Pumped storage hydropower plants store and generate electricity by moving water between upper and lower reservoirs, supporting grid stability.
Statkraft operates two hydropower facilities in Albania with a combined output of some 700 GWh per year, namely the Moglica HPP and the Banja HPP, both harnessing the flow of the Devoll River, the company said earlier. Total investment cost of the Devoll hydropower project was estimated at 590 million euro ($624 million).
Statkraft said earlier this year it has completed the implementation of a 2 MWp floating solar plant in the reservoir of Banja HPP.
($=0.945 euro)