Karavasta solar power plant

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This project consists of construction of a 140 MW solar power plant with an associated 19.2 km 220 kV OHL, located in the municipality of Fier, Albania. The sponsor of the project is Voltalia, which has won a 30-year concession for the project in 2020, awarded by the Albanian Council of Ministers. Once completed, the power plant will have capacity of 140 MW and according to the terms of the contract will sell 50% of the electricity through a 15-year sales contract to the Albanian public operator, while the remaining production will be sold through long-term contracts to private operators. The sponsor is responsible for its design, financing, construction, operation and maintenance. Total investment stands at $147.93 million and $31.78 million loan is provided by the European Bank for Reconstruction and Development (EBRD). Additionally, the IFC provided a loan of $44.93 million and a $3 million Risk Management insurance. Intesa Sanpaolo also arranged a $31.78 million loan. Construction started on July, 1, 2022, and financial close took place on 19 April, 2023. Realfin https://disclosures.ifc.org/project-detail/SII/45644/karavasta-solar https://group.intesasanpaolo.com/en/newsroom/news/all-news/2023/project-financing-solar-power-plant-albania https://www.ebrd.com/news/2023/ebrd-leads-on-financing-for-landmark-solar-plant-in-albania.html https://www.ebrd.com/work-with-us/projects/psd/52361.html https://www.voltalia.com/news-releases/news-release-details/albania-voltalia-launches-construction-karavasta-project-largest/ https://karavastasolar.com/about-project/