3Power Energy Group Inc (PSPW)

[davied25]

They’re cracking down on the bad ones, but doing so to minimize impact to the state budget, haha.
https://www.infrastruktura.gov.al/procesi-i-skanimit-bonati-nderprerje-e-kontratave-koncesionare-per-17-hec-e/

Media Declaration of Deputy Minister of Infrastructure and Energy Hantin Bonati:

The process of scanning the situation on the correctness of the implementation of contractual obligations by the beneficiaries of contracts for the construction of HPPs continued at a rapid pace, according to the plan drafted by the Ministry of Infrastructure and Energy.

In implementation of Order no. 47 and no. 48, dated 30.1.2019, "On verification of the implementation of the terms of concession contracts and contracts subject to the Council of Ministers Decision no. 822, dated 7.10.2015, on the hydro power sources ", all measures have been taken to address the problems identified to date, where most of the frequencies are:

- Failure to observe the procedural deadlines;

- Failure to comply with the legal requirements and criteria in the contracts and permits issued.

The National Agency for Natural Resources has already completed the process of monitoring and verifying the situation on the ground and the work has focused on documentary practice and coordination of attitudes with other institutions such as the Ministry of Tourism and Environment and the Water Resources Management Agency, to come to the final conclusions on the procedures and steps to be followed.

Following the scanning process, there have been 9 other cases of violation of contractual terms by the entities for which the procedure for unilaterally terminating the contract will be initiated.

Thus, to date, the total number of practices for which the unbundling process of concession contracts has begun goes in 17 cases.

As has been previously mentioned by the Ministry of Infrastructure and Energy, it is proceeding carefully to minimize the potential risks and financial implications for the State Budget.

Problems repeatedly identified during this scanning process are being analyzed in the function of re-engineering the entire procedure for concluding concession contracts, as well as for the process of monitoring and controlling the latter.