India Power-led consortium picked for Albania's first solar power station

The $79.34m station is expected to have a capacity of 100MW.

Reuters reports that Albania picked a consortium led by India Power Corporation to build its first solar power station worth $79.34m with a capacity of 100MW.

The offer by India Power, Mining Resources FZE based in the United Arab Emirates and the Hong Kong-based Midami Ltd. was the one out of three with the best combination of “technical and financial credibility, price and additional capacity”, Albania’s energy ministry said.

Albania wants to install 120MW of solar and 70MW of wind power capacity by 2020 as power from rivers and a newly built power plant encounter issues related to aspects like cooling.

Once the solar plant has been built in 18 months, it will sell power to the local distributor at EUR59.9 per MW for 15 years out of its 50 first MW. Energy from the other 50 MW will be sold at market prices.

Read the full report here.