Investments Boom in Renewable Energies during 2016

Investments Boom in Renewable Energies during 2016

TIRANA, February 27

The hydropower sector is blooming in Albania as 38 small hydro-power plants started production during 2016. According to the data provided by the Energy Regulatory Entity (ERE), the number of small hydropower plants in 2016 reached to 138.
Experts of this sector say that numerous companies that previously were focused on construction and trade are now investing in the energy sector. The renewable energy market is safe and the production costs after the finalization of the investment are low.
Energy production increased along with the increased number of small hydropower plants. Based on ERE’s data, domestic production of electric energy during 2016 was 7.2 billion kWh.
Only Banja Hydro Power Plant built in Devoll River produced 69,848,000kWh.
Despite their environmental impact, private HPPs increased energy production.
On the other hand, even though the numerous stances on the environmental impact of HPPs, the Ministry of Energy issued permits for the construction of small HPPs. The government has liberalized the process. Therefore, the permit for every HPP with an installed capacity of 2,000 watt is issued by the Ministry of Industry and Energy, while previously the permit decision was adopted by the Council of Ministers.

News Source: monitor

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