Alina Oprea • 3 November, 2023 at 10:36 AM
Renewables developer CWP Europe and GE Vernova's Onshore Wind business have teamed up to develop a massive wind and solar hybrid project in Albania. The project is worth more than €1 billion ($1.05 billion), according to Renewables Now. The project ”has the potential to elevate Albania to the status of a net exporter of electricity, significantly enhancing regional energy security”, it is mentioned.
Under a project partnership agreement, the parties will work to deliver a hybrid renewable power plant expected to generate enough electricity a year to cover around 75% of the consumption of all Albanian households.
The initiative appears to be at an early stage, with the developers yet to obtain all necessary project permits and conduct an environmental and social impact assessment.
Stephen Swift, chief commercial officer, of GE Vernova Onshore Wind, noted that GE and CWP have partnered on the development of several GWs worth of projects around the world.
Earlier this year, a CWP Europe executive told Renewables Now in an interview that the company recognizes an opportunity in the Southeast Europe market's lack of maturity.