EU Growth Plan, Albania benefits from 32 million euros with the first 3 projects

Albania benefits from the first phase of funding under the European Union’s Growth Plan, 32 million euros for three projects.

The funding is part of the 87.7 million euro support package that the EU approved under the Growth Plan for the Western Balkans Investment Framework (WBIF) projects.

The first project for which Albania receives funding is “Digitalization of the electricity transmission system,” which includes 40 high-voltage substations across the country, thus increasing the network’s capacity and reducing losses. The project’s value reaches 95.3 million euros, with the EU contributing 10.5 million euros. The completion deadline is 2030.

The second project is the reconstruction of the Fierza Hydropower Plant. The investment aims to extend the life of the hydropower plant by another 30 years, increasing efficiency by 4% and production by 10%. The second phase of the project is supported by the Growth Plan funds with 13.6 million euros, in a total investment of 64.2 million euros. The completion deadline for this project is also 2030.

The third project is the new Rrashbull-Tirana line and the Tirana Ring Road. The construction of the 400/220 kV transmission line aims to expand the network to meet the growing demand in the capital. The investment amounts to 61.1 million euros, while the EU contributes 8 million euros. The project is expected to be completed this year.

The European Union’s Growth Plan for the Western Balkans has its first projects in the field of clean energy in almost all countries of the region. Albania is among the largest beneficiaries.

At this stage, Albania has three major projects, reaching a value of over 220 million euros, with the EU contributing 32 million euros. (August 25)