![](https://investorshub.advfn.com/uicon/240965.png?cb=1572723215)
Wednesday, December 06, 2017 2:29:14 PM
TIRANA (Albania), November 29 (SeeNews) - Albania and Kosovo have signed a memorandum of understanding (MoU) on the establishment and operation of a common energy exchange, the Albanian government said.
The project will be known as the Albanian Energy Exchange, according to a news release issued after a meeting of the governments of Albania and Kosovo held in the southeastern city of Korca on Tuesday.
The MoU is a part of an agreement to establish a common energy market of Albania and Kosovo launched in March 2014.
The energy exchange aims to facilitate sales and purchases of energy at prices that reflect the real market value and eliminate the need of public tenders, Albania's energy minister Damian Gjiknuri said during a presentation of the project earlier this year.
The governments of Albania and Kosovo see the common energy market as a very important step towards increasing electricity transmission between the two countries. They also expect the common market to improve power supplies to consumers in Albania and Kosovo and add value to the energy infrastructure in the region of Southeast Europe.
The first step toward establishing a common market was finalized in June 2016 with the inauguration of 400 kV interconnection power line worth 75.5 million euro ($87.9 million) between Albania and Kosovo financed by the German government through the KfW development bank.
Almost all of Albania’s electricity is produced by hydro power plants, while over 98% of Kosovo's electricity output is generated by coal-fired power stations. Despite progress, both countries suffer power shortages due to insufficient output, the age of their grids and theft.
Author: Oran Viriyincy. License: Creative Commons, Attribution-ShareAlike 2.0 Generic
- See more at: https://seenews.com/news/albania-kosovo-sign-mou-to-set-up-common-energy-exchange-592848#sthash.VZdf2XIw.dpuf
All of my posts are my opinion only and are not meant to be investment advice.
Element79 Gold Corp Appoints Warren Levy to Board of Directors • ELMGF • Aug 28, 2024 9:51 AM
Integrated Ventures Announces Strategic Entry Into Health & Wellness Industry with Focus on GLP-1 Products • INTV • Aug 28, 2024 8:30 AM
ELEMENT79 ANNOUNCES UPLISTING TO OTCQB VENTURE MARKET • ELMGF • Aug 26, 2024 10:03 AM
North Bay Resources Announces Gold Assays up to 2.2 Ounces per Ton, Fran Gold Project, British Columbia • NBRI • Aug 26, 2024 10:00 AM
PickleJar Unveils Latest Venue Managed Services Innovations in Upcoming Webinar • PKLE • Aug 23, 2024 1:11 PM
Element79 Gold Corp Provides Update on Nevada Portfolio • ELMGF • Aug 23, 2024 8:00 AM