EBRD mulls EUR 12.7mn loan to finance dap safety project in Albania.

By bne IntelliNews October 18, 2011
The European Bank for Reconstruction and Development (EBRD) considers providing EUR 12.7mn sovereign guaranteed loan to Albanias state-owned power utility KESH to finance the upgrade of Koman hydropower dam on the Drin Rriver, the bank said in a statement. The credit will finance part of KESHs programme aimed at improving the safety of dams at the Drin and Mat River cascades. The hydropower plants located alongside these cascades generate 95% of the countrys power production. The project total cost is estimated at EUR 65.7mn and will be jointly co-financed by the World Bank, the Swiss State Secretariat for Economic Affairs (SECO) and the German development bank KfW in the forms of grants and concessionary financing. Some of the main activities, envisaged by the project, include rehabilitation of discharge facilities, installation of new systems for control and monitoring, installation of alarm systems as well as improving the road access to the plants buildings, dams and drainage galleries. KESH produced a record high of 7.7bn kWh of electricity in 2010, up 48% y/y, due to heavy rainfall which enabled the companys hydropower plants to operate at maximum capacity. The Fierza (500MW), Koman (600MW) and Vau i Dejes (250MW) plants on the Drin River produced 1.17bn kWh of electricity, while smaller plants Bistrica and Lanabregasi, on the Mat River, produced 497mn kWh.

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