Crisis, government sells hydropower plants
22/11/2011 08:05
House arrest for head of Tropoja Municipality after accusations of abuse of office 09/09 21:06
The Albanian government is hoping to gain 100-150 million EUR from the
sale of hydropower plants that have lately been removed from the balance
of the Albanian Energetic Corporation, for creating a new company.
The news comes from government sources, to which the Shqip Newspaper is referred.
The four hydropower plants of Ulza, Shkopet, Bistrica 1 and Bistrica 2 have an installed capacity of 76.8 MW and have produced 6.07% of the Albanian electrical power in 2010.
“We are in an important phase of the privatization of four HPPs and very soon there will be an international auction for the sale, around 80MW”, declared Nasip Naco, the Minister of Economy, Trade and Energy, at the Forum of Trade and Investments of the Black Sea.
According to the Shqip newspaper, these HPPs have produced 546.000 MW in total, with a total annual turnover of 22.8 million EUR.
The government gave no explanations for the privatization of these HPPs, which are in full production phase and have no management problems; the Albanian Energy Corporation has managed them since their creation.
The HPPs in the Mat Valley have 134 employees, while those in Bistrice have 64. The buyer will be able to start having net profits after 7-9 years, if the price goes to 150 million EUR, with a 15% annual profit norm.
The construction cost of HPPs varies from 500.000 to 2 million EUR for installed MWs, which means that the value of these privatizes objects, if constructed today, could reach 38-153 million EUR.
In the basins of the Fierze HPP, the water reserves are almost empty, due to the drought, which could cause an energetic crisis for the country.
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