Masdar, a UAE-based renewable energy firm, and Albania’s state-owned Korporata Elektroenergjitike Shqiptare (KESH) signed a joint venture agreement during COP29 in Baku. The partnership aims to explore gigawatt-scale renewable energy projects, including solar, wind, and hybrid solutions with potential battery storage. This collaboration will support Albania’s clean energy goals and enhance its power export capacity to neighboring countries. Additionally, Masdar is expanding its presence in Southeast Europe with plans to acquire Greece’s TERNA ENERGY, aiming to reach a 6 GW renewable capacity by 2029. Recently closing financial agreements for the 154 MW Čibuk 2 wind projects in Serbia, raising its total capacity there to over 300 MW.
Masdar & KESH team up for gigawatt-scale renewables in Albania
The agreement aims to explore solar, wind, and hybrid energy solutions in Albania. (Image Source: Masdar)
Bechtel will handle the design and construction of Rio Tinto’s latest solar initiative at the Kennecott site in Utah. (Image Credit/Source: Pixabay/Pexels)
Ameresco will design, build, and maintain the solar project at UCI Health over a 25-year power purchase agreement. (Image Source: Ameresco)
The $290M financing will support Pine Gate’s 225 MW solar projects across two southern US states. (Image Source: Pine Gate)
The 33 MW hybrid solar-wind plant in Maharashtra will power Equinix’s expanding digital infrastructure needs. (Image Source: CleanMax)