The total energy production in Albania is through its hydro resources, and currently it can only provide approximately 60% of the country’s needs as there have been no new hydro developments in the past 20 years.
The sector is currently being privatized, and the Government is determined to solve the energy problems by offering concessions for the construction and operation of small and medium sized hydro power plants on all of its major rivers.
The annual water flow of the rivers combined is 40 billion cubic metres, which is capable of producing 16 to 18 TWh of electricity per annum. Until recently the annual hydro energy production has stood at between 3.8 and 5 TWh, which means that only one third of the total hydro potential is being exploited.
The vigorous development of the economy in Albania after her integration into the free market has opened unlimited possibilities in the construction and exploitation from the private sector of energy resources.
The feasibility plan has identified that this section of the Osumi River has the optimum geographical position, topography and hydrological features required to successfully extract the maximum benefit from hydro electric power.
Genosumi, in association with its partners, have been awarded the license for the build, operate and transfer (BOT) of 8 hydro power plants on the Osumi River in Southern Albania. This license, based on our tender application, six of the power plants to be constructed will be of a dam-reservoir type, while two of the power plants will be of a derivation type for an installed capacity of 152.20 MW, with a peak operational capacity of 140.45 Mw.
It should also be noted that the electricity generated can be sold throughout Europe and the Balkans; hence there is sufficient demand from home and abroad to ensure that a strong free market economy exists for the sale of the electricity.
The demand for power throughout Europe and the Balkans is continuing to increase year on year, with the likely demand for electricity in Europe over the next 10 years estimated to increase by 35%.
The demand for green energy throughout Europe will increase exponentially in the future as the European Union increased the minimum green electric requirement of each of it’s member states.
The Albanian Government are aware of the potential the country has for the generation of green energy that can be exported, and the Country’s significant strategic location. Hence they have awarded concessions for the construction of high voltage interconnecting lines to Italy and Kosovo, creating access to a very large potential market throughout Europe and the Balkan States.