The European Investment Bank (EIB) announced on Monday that it has signed a 33 million-euro investment loan for the construction of one of Kosovo’s largest solar photovoltaic (PV) plants near Pristina (northern Kosovo), with a capacity of up to 100 MWac (120 MWp).
“As one of the largest renewable energy developments in the region under Team Europe, this project will help Kosovo achieve its energy security and renewable energy goals. Together with the European Commission and other partners, we are glad to be able to jointly help Kosovo lay the groundwork for the decarbonisation of the local economy and diversification of the energy mix, in line with the EU Green Agenda,” said EIB Vice-President Kyriacos Kakouris.
Upon completion, the plant is expected to produce around 169 gigawatt hours (GWh) of electricity and displace 174,000 tonnes of CO2 a year on average, the EIB noted in a press release.
“The signing of today’s agreement for the construction of the photovoltaic plant is a landmark moment as Kosovo advances its initiatives to secure renewable energy use for its citizens. This project, the largest of its kind in the region, not only guarantees a sustainable energy production method but also accelerates Kosovo’s shift from conventional energy sources,” said Kosovo’s Minister of Finance, Labour and Transfers Hekuran Murati.
The investment benefits from Team Europe support, enabling the allocation of a 32 million-euro EU grant channelled through the Western Balkans Investment Framework for the project’s preparation and implementation, the EIB said. The grant will be combined with loans from the EIB (33 million euros) and KfW (29 million euros).