WBIF financing for a new solar power plant in Albania at Belshi

A ceremony took place in Albania, 22 July 2025, to sign the agreement to build a new solar photovoltaic power plant at Belshi. 

The €42 million project is co-financed by an EU contribution of €9.5 million, through the Western Balkans Investment Framework. The European Bank for Reconstruction and Development (EBRD) provides a guaranteed loan of €30 million. Funding was also provided by the Austrian Government for technical assistance. 

In Albania, almost 95 per cent of the energy mix comes from renewable energy sources, with hydropower generation being the dominant source. 

This makes the country vulnerable especially to droughts and in dry years the country relies on imported electricity for up to a half of its total consumption. The Belshi Solar Plant will help reinforce domestically produced energy by providing an additional peak capacity of 50 megawatts.

The project contributes to Albania’s Energy Strategy and National Renewable Energy Action Plan (NREAP), which aims to increase its non-hydro renewables to almost 640MW by 2030, of which 490MW is planned to come from solar photovoltaic plants.

The ceremony was attended by Deputy Prime Minister Belinda Balluku, EU Ambassador Silvio Gonzato, representatives from the Austrian Embassy, EBRD Country Manager, Ekaterina Solovova and the Albanian Energy Corporation, KESH.

EU Ambassador Silvio Gonzato highlighted this timely and strategic investment as Albania prepares to open Cluster 4 – Green Agenda and Sustainable Connectivity in its EU accession talks. "The EU is a strong partner in Albania’s energy transition. This project is part of our broader support to help the country align with the EU’s Green Agenda and move towards a greener, more sustainable future — not just in energy, but also in transport, the environment, and biodiversity," the Ambassador stated.