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Statkraft announces additional investment in the Devolli cascade, the contract goes to the Assembly for ratification

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The Devoll river cascade is expected to produce more electricity. The Norwegian company Statkraf has signed the fourth addendum to the concession contract with the Ministry of Infrastructure and Energy, a document that has arrived for ratification in the Parliament of Albania.

The contract envisages the construction of a new reservoir in the Devolli cascade, called "Additional Upper Reservoir of RP Moglica", located about 8 km east of the Moglica dam.

The Upper Reservoir will consist of 2 dams with rock fill, at a height of 20 to 70 m. The underground plant is located on the hill on the left side of the Devoll river branch of the Moglica reservoir and is equipped with reversible pump turbines. The installed capacity will be approximately 800-1600 MW subject to the final project. Everything, according to the contract, is expected to be completed in 2030, when it is expected to be put into operation.

In this way, the Devolli Cascade is expected to be the largest in Albania, surpassing that of the Drin River, whose installed capacity is 1400 MW.

Currently, two hydropower plants are in operation in the Devoll river cascade. In 2013, the construction of HEC Banja began, which was completed and entered into operation in 2016. The construction of HEC Moglicë began in 2015 and the operation of the hydropower plant began in 2020. Both of these works have an installed capacity of about 269 MW and production about 700 GWh/year. Meanwhile, the Banja floating photovoltaic plant with an installed capacity of 2 MW also started operating this year.

The investment cost of the Devolli Hydropower Project is estimated at around 590 million euros. Meanwhile, according to the company's own official data, the total production of electricity during 2022 was 490,343 MWh, a reduction of about 28% compared to 2021 due to unfavorable hydrology. But, on the other hand, in this year the income increased due to the increase in the price of energy in the world stock markets. Thus, net income from exploitation activities was recorded at 14,514 billion ALL, a huge increase compared to 278.4 million ALL of the previous year.

Precisely, the expansion of profits due to the increase in the price of energy, forced the Albanian government to impose an extraordinary tax at the end of last year, which affects the three largest energy producers in the country, which are the companies Kurum, Statkraft -Devolli Hydropower and Ayen Energy. /Telegraph/

https://telegrafi.com/statkraft-panifkon-investim-shtese-ne-kaskaden-e-devollit/