ContourGlobal withdraws from 500 MW Kosovo project

US based ContourGlobal announced withdrawal from the 500 MW coal power plant project in Kosovo. The €1.3 billion investment was cancelled after the new Government pledged to stop the project immediately after coming to office in February. ContourGlobal already faced strong headwinds in its effort to commission the unit: World Bank decided not to financially support the investment, the EU applied pressure to cancel the project and several environmental groups filed multiple complaints and ran protests against the legality of the power purchase agreement (PPA) in place.

Source: BNE IntelliNews