Devoll hydropower project overview
Devoll Hydropower project consists of two hydropower plants, Banja and Moglicë, to be built in the valley of Devoll, with an installed capacity of 256 MW. The power plants will produce 729 GWh annually, increasing the Albanian electricity production by almost 17 per cent. The investment decision for the third plant will be considered when the first two plants are completed. The power plants are located on the Devoll River, about 70 km southeast of the capital Tirana. They will utilise a head of 555 meters in the Devoll river, between 650 and 95 meters above sea level. The investment frame for the two first plants is estimated to EUR 535 million. The plants are expected to be completed in 2016 and 2018. The project company Devoll Hydropower Sh.A. was initially a 50/50 joint venture between Statkraft and the Austrian energy company EVN. Early 2013, Statkraft acquired EVN’s 50 per cent share and is now 100 per cent owner of the company and the construction project. The concession agreement gives Devoll Hydropower the right to build, own and operate the power plants until they are transferred back to Albanian authorities at the end of the concession period.