The European Bank for Reconstruction and Development (EBRD) has approved a sovereign-guaranteed loan of up to €30 million (~$35.1 million) for KESH, Albania’s state-owned utility. KESH is responsible for generating around 65% of the country’s electricity and will implement the 50 MW PV plant. Albania is developing the project to reduce reliance on hydropower and improve energy supply during dry seasons. The European Union has committed an €8 million (~$9.36 million) investment grant and €1.2 million (~$1.4 million) in technical assistance through the Western Balkans Investment Framework. Austria has contributed additional project preparation funding through the EBRD’s High-Impact Partnership on Climate Action. KESH has stated that the solar portfolio is expected to generate over 70 GWh of electricity annually once operational. The PV unit is aligned with Albania’s Energy Strategy and its National Renewable Energy Action Plan, which targets 490 MW of solar capacity by 2030. The EBRD and the European Union have jointly committed €1.5 billion to support a 1 GW renewable energy development plan in Ukraine, recently.