Albania sees no risk for EUR 950mn Devoll project after EVNs exit.

By bne IntelliNews March 20, 2013
The EUR 950mn project for the construction of Devoll Hydropower cascade will be launched soon and will be implemented under the sole ownership of Norwegian company Statkraft, AMA-News media agency reported, quoting Albanian economy minister Edmond Haxhinasto. The statement was made a few days after Austrias energy group EVN said that it will its 50% stake in the project Norwegian partner Statkraft. Devoll Hydropower was set up as a joint venture between EVN and Statkraft after the two companies won in 2009 a concession to build three hydropower plants on the Devoll River. The new plants are planned to generate up to 800GWh of electricity per year and help boost Albanias power output by some 20%. Statkraft has not officially commented on its plans for further development of the Devoll project.

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