Albania already leverages its natural advantages, such as its rivers, with impressive results for energy generation. The International Energy Agency says 98% of its electricity is generated by hydropower, as reported by Daily Wrap. Now, the Balkan nation is looking to expand its repertoire even further into other clean energy sources.
Balkan Green Energy News reported on the government’s initial €510,000 ($530,600) investment to establish the OER, a renewable energy operator. The new entity will be run by the government and serve multiple purposes.
For one, it will be tasked with buying clean energy from wind and solar plants with contracts for difference and rewarding them with premiums. Another function will be operating the country’s renewable electricity support fund for both privately and publicly held energy producers. That fund will be obligated to optimize the European Union’s best practices for wind, solar, and hydropower.
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There is a lot of opportunity for Albania to grow in clean energy production. Generating 100% of its electricity through clean energy is enviable, and Albania is in a select group of seven countries to do so, according to Daily Wrap.
Still, electricity only represents 28% of the nation’s energy needs. That number is just over halfway to the country’s goal of 54.4% of energy generated by clean sources by 2030.
Albania’s moves toward clean energy are to be commended as the world moves away from dirty energy. This year saw record-setting global temperatures and devastating storms that underline the importance of getting away from fossil fuels that warm the planet.
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The state-backed energy operator is just one of a few developments that can close the gap in Albania. As Balkan Green Energy News noted, not a single wind turbine is operating in the country. Considering the hugely powerful turbines operating in China, Scotland, and continental Europe, that represents a major potential opportunity.
A partnership between Albania power utility Kesh and Abu Dhabi clean energy company Masdar could also have a major impact. The agreement targets “gigawatt-scale” solar and wind projects in Albania that can provide energy for Albania and neighboring countries.
One more prospect is a large solar project called the GreNNat Solar Park Ballsh that received approval to begin partial production. While the eventual project may grow to a 100-megawatt facility by 2028, a quarter of it has been already approved, per Monitor Magazine.
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