Green Forum • 20 March, 2024 at 7:00 AM
The European Investment Bank (EIB) has signed a €33 million investment loan to construct one of its largest solar photovoltaic plants near Pristina. This plant, with a capacity of up to 120MWp, aims to boost the utilization of solar energy in power generation, fostering energy supply security, hastening the green transition, and stimulating economic growth in the region.
Once operational, the plant is anticipated to generate approximately 169 GWh of electricity annually and offset an average of 174,000 tonnes of CO2 emissions per year.
This investment is backed by Team Europe support, facilitated by a €32 million EU grant funneled through the Western Balkans Investment Framework to aid in the project's preparation and execution. The grant will complement loans from the EIB (€33 million) and KfW (€29 million), under the Mutual Reliance Initiative, aimed at enhancing the effectiveness of combined financing and expertise for the project.
Kyriacos Kakouris, Vice-President of the EIB overseeing activities in the Western Balkans, expressed optimism about the project, stating: ”As one of the largest renewable energy ventures in the region under Team Europe, this initiative will bolster Kosovo's energy security and renewable energy objectives."
He further emphasized the collaborative effort with the European Commission and other partners to assist Kosovo in laying the groundwork for decarbonization and energy mix diversification in line with the EU Green Agenda.