EIB backs 120-MWp solar project in Kosovo

The European Investment Bank (EIB) said on Monday that it has signed a EUR-33-million (USD 35.9m) investment loan for the construction of a solar farm with a targeted capacity of 100 MW/120 MWp in Kosovo.

The initiative also benefits from Team Europe support which has enabled the allocation of a EUR-32-million EU grant channelled through the Western Balkans Investment Framework. This grant will be combined with the support from the EIB and another loan of EUR 29 million from German state-owned investment and development bank KfW, according to a statement.

The project, touted as one of the largest such schemes in the Balkan country, will be built near the capital city of Pristina. Once operational, the site will generate around 169 GWh of clean electricity, eliminating 174, 000 tonnes of carbon dioxide emissions annually.

“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 Kyriacos Kakouris, EIB vice-president in charge of activities in the Western Balkans.

(EUR 1 = USD 1.089)

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