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)
Scatec has secured EUR 25 million from IFU, alongside equity and non-recourse debt, for its USD 85 million project financing. (Image Source: Scatec ASA)
EliTe Solar launched its 5 GW PV project in Egypt’s TEDA Suez Zone, set to begin production by September 2025. (Image Source: PRNewswire)
Part of SECI’s 2 GW ISTS initiative, the project will deliver four hours of peak power daily for 25 years. (Image Credit/Source: Pixabay/Pexels)
Ethical Power Italia’s first EPC projects in Italy, two solar farms for Encavis AG, will generate 28 GWh annually. (Image Credit/Source: TomFisk/Pexels)