How many solar projects are in Albania?

The Albanian government has received requests from four companies looking to develop four separate solar projects located across the country. Albania’s Ministry of Infrastructure and Energy has received expressions of interest from four companies looking to construct four solar projects with a cumulative capacity totaling 235 MW.

Can Albania grow in solar energy?

Albania’s potential for growth in solar energy is underscored by its renewable energy auction program, which has already begun to attract interest from both local and foreign firms.

How much does solar cost in Albania?

Albania ran a 300 MW solar tender last year. The Ministry of Infrastructure and Energy shortlisted nine bidders with an average price of €0.0513 ($0.054)/kWh offered across 283.9 MW of capacity allocated in July. The country had deployed 163 MW of solar by the end of 2023, according to figures from the International Renewable Energy Agency (IRENA).

What is solar investment in Albania?

Solar investment in Albania for the next 10 years refers to the country’s strategic focus on expanding its solar energy capacity, driven by its advantageous geographical conditions and growing economic need for renewable energy sources.

Can Albania expand its solar power capacity?

Most solar power plants in Albania are small-scale installations, generally with capacities of less than 5 MW. This limited scale of deployment underscores the opportunity for Albania to expand its solar capacity significantly, particularly as the country relies heavily on imported fossil fuels to meet its energy needs.

Will solar power outpace wind development in Albania?

While Albania has considerable wind potential, particularly in areas like the Lezhe mountains along the Adriatic coast, solar energy is forecasted to outpace wind development in the coming years. BloombergNEF projects that wind energy will reach 370 megawatts of installed capacity by 2030, which is less than half of the forecasted solar growth.