Voltalia’s Karavasta Solar plant in Albania delivers 45 GWh in Q1

Revenues generation at a high price for the power plant of Karavasta, and the indexation of selling prices to inflation have contributed to a 20% year-to-year surge in the company’s energy sales to 75 million euro ($81 million) in the first quarter, Voltalia said in a quarterly report earlier this week.

The 140 MW Karavasta Solar delivered its first gigawatt hour of energy in December last year, Voltalia said in April.

The plant is expected to deliver 265 GWh of power per year, according to Karavasta Solar’s website. Half of the generated electricity is sold to Albania's electricity distribution system operator OSHEE under a 15-year power purchase agreement, while the rest will be used to supply private operators under long-term deals.

In 2020, Voltalia secured a 30-year concession contract with the Albanian government for the project. Investment in the plant was estimated at 135 million euro.

($=0.923 euro)