Voltalia (Euronext Paris, ISIN code: FR0011995588), an international player in renewable energy, announces that its Karavasta solar plant, with a capacity of 140 megawatts, located in the Fier district, south of Albania, is built and ready to generate power.
On 17th October, as part of a State visit, the French President Emmanuel Macron and the Albanian Prime Minister Edi Rama welcomed in Tirana representatives from both Albanian and French branches of Voltalia. The Karavasta solar plant is the largest in Albania and indeed the largest in the Western Balkans. It is now built and is expected to produce its first megawatt-hours in the coming weeks.
With a capacity of 140 megawatts, the plant can provide electricity equivalent to the annual consumption of 220,000 residents, which is twice the energy needs of Albanian cities such as Vlora or Kamza.
In addition to meeting these energy needs, the Karavasta solar plant will play a pivotal role in preserving the environment by preventing over 29,165 tonnes of CO2 per annum, which is roughly 7% of the emissions from the Albanian industrial sector. The plant will thus significantly contribute to the ambitious target set by the Albanian government to reach 54.4% of renewable energies in the country’s gross energy consumption by 2030.
This extensive project, carried out over about 200 hectares in less than 18 months, is supported by long-term sale contracts.
Sébastien Clerc, CEO of Voltalia, who responded to questions from French President Emmanuel Macron and Albanian Prime Minister Edi Rama, stated: “Voltalia thanks all stakeholders who have made the Karavasta project a reality, particularly the Albanian Council of Ministers, the Ministry of Infrastructure and Energy, as well as the European Bank for Reconstruction and Development. I also warmly thank everyone on our team who contributed to this success. Karavasta is a shining example of how quickly decarbonised and competitive local electricity production can be implemented.”
