3Power Energy Group Inc (PSPW)

[future123]

Statkraft starts the study for the new 1200 MW HPP in Devoll
MARCH 1, 2024

The Norwegian giant Statkraft announced the launch of the study for the 1200 mega hydropower plant project with pumping system, which it intends to build in Albania. Currently, the company operates two hydropower plants in our country, Banja and Moglica.

The parent company has today published its financial results on the Stock Exchange, where it reported for 2023 the second best financial result in its history. After the record prices on the stock exchanges in 2022, last year the company also managed to generate a net profit after taxes of 2.2 billion euros.

Among other things, in the announcement to all shareholders, the Norwegians highlight as one of the most important news of the last quarter, the launch of the pre-feasibility study for a pumped storage plant of 1,200 Me.

At the end of last year, the company announced the idea of ??using the Moglica reservoir, which holds 380 million cubic meters of water, as the basis for the new pumping station, as the turbines can also be placed underground.

This would significantly increase the annual electricity production in Albania and improve the management of the Devolli cascade. The company expects the study phase to be completed this year, paving the way for the decision to make such an investment or not. But the fact that this project is considered by Statkraft among the most important makes it even more possible to start the implementation phase in 2025 and production by 2030.

https://www.kapitali.al/statkraft-nis-studimin-per-hec-in-e-ri-1200-mw-ne-devoll/?fbclid=IwAR08LpkIok9rUjcLUXYHEmTRjj1kdBHTwtbJ6cOElR6p09iOUEM9Vqbe8x0