India Power to build 100 MW solar park in Albania
India Power won a large-scale solar tender in Albania and is preparing to build a 100 MW solar park near the city of Vlorë. According to the agreement, 50 MW of capacity will be guaranteed a power purchase agreement (PPA) of 59.9 €/MWh during a 15-year period, while the remaining capacity will sell its production at market prices on the local electricity market. As reported, six bids were submitted for the tender with 3 shortlisted offers being: India Power Corporation, UAE based Mining Resources FZE and Hong Kong based Midami Limited. Tender process was facilitated by the European Bank for Reconstruction and Development (EBRD) which helped the Albanian government to set up an auction mechanism. The project is estimated to cost around €70 million and is expected to be finalised within 18 months..
Source: PV Magazine, Reuters