| Project Detail |
MIGA has been requested to provide guarantees covering non-shareholder loans by the Green for Growth Fund Southeast Europe S.A., SICAV-SIF (Guarantee Holder or GGF) into SPV BLUE 1 SH.P.K (Project Enterprise, PE), for a period of up to 13 years. The PE is a joint venture company created by Blessed Investment sh.p.k and Matrix Konstruction sh.p.k to undertake the design, construction, operation, and maintenance of a 50 megawatt (MW) solar photovoltaic plant (PV) and a 1.6 kilometer (km) 110 kV overhead transmission line (OHTL) in Topoje, Municipality of Fier, Albania (the Project).
The Project consists of 103,020 solar panels, office buildings, a 110/35 kV substation, access roads, and a parking area. The Project’s 110 kV OHTL temporarily connects the power plant to the 220 kV Hoxhara-Fier OHTL until the project can connect to the new 220/110/35 kV Hoxhara substation, which is estimated to be commissioned in December 2024. The Hoxhara-Fier OHTL and Hoxhara substation, which are under the responsibility of the Transmission System Operator (OST sh.a.), have been designed to serve existing and planned solar power projects in the area.
The Project is located in two separate land plots (main plot and secondary plot), approximately .05 km apart, on bare and former agricultural land, which has not been cultivated for over 30 years. The Project site, which is approximately 1.5 km from the coast of Topoje, does not overlap with any legally protected area, key biodiversity area, or important bird area. The area is sparsely populated and the nearest village, Gyrka, is located approximately 1.5 km from the Project site.
The Engineering, Procurement and Construction (EPC) of the Project was implemented through split contracts (e.g. civil works, electrical, engineering), overseen by the PE. Matrix was responsible for construction of the Project, while Renco provides construction management and engineering assurance. The Project’s construction started in July 2022 and was commissioned in May 2024. Abkons sh.p.k, a subsidiary of Blessed Investment, has been contracted for the Project’s operation and maintenance. |
