KESH authorized by World Bank for 23 mln EUR electricity emergency loan

21/08/2017 00:00

The World Bank authorized the Albanian Energy Corporate (KESH) to use the 23 million EUR loaned fund to import energy.

Right after the authorization, KESH officially appealed private companies to present their bids.

KESh wants to buy 126.000 MW of energy from September 1st to 30th. However, this includes just one part of the import that is needed for total consumption.

According to sources, the Energy Distribution Operator needs 400.000 MW for September, the same amount they needed in August. The rest will be bought by OSHEE itself.

In the past two months, July and August, Albania has imported more than 50 million EUR of electricity to cover the low domestic production, dictated by drought.

The entire bill so far has been covered by the OSHEE funds themselves, Some of it in the next months will be paid by KESH.

In 2014, when the government started the program for renewing the energy sector, they signed for an 150 million USD loan with the World Bank to fund the reform. Part of this was also a 23 million EUR loan to buy energy in extraordinary situations, such as drought.

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