Article

Albania's government is set to receive a EUR 40 million loan from the German development bank KfW for the rehabilitation of the Fierza hydroelectric power plant, pending parliamentary approval. This loan expands on a 2022 agreement that included an original KfW loan and grants.

The new funding will facilitate improvements to electromechanical systems and monitoring capabilities, addressing identified technical needs. The rehabilitation aims to extend the plant's operational life by 30 years and enhance efficiency. Currently, the plant's production capacity has decreased by 4% annually, leading to significant revenue losses in the electricity sector.