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| Coal fired power plant Kosova e Re |
Contour Global and the Government of Kosovo have announced that the consortium of General Electric (GE) companies has been selected as the preferred bidder in the tender for Engineering, Procurement, Construction and Long Term Maintenance for the Project of the Power Plant "Kosova e Re". As announced in September 2018, four pre-qualified companies were invited to submit their technical and financial proposals.
GE, ContourGlobal and the Government of Kosovo plan to continue further negotiations in order to reach an agreement on the final conditions.Karl Schnadt, Executive Vice President and Chief Operating Officer of ContourGlobal, said: "This marks a key step in the development of the New Kosovo project. We are happy to go ahead with a world-class company that has the commitment and the ability to build 'New Kosovo' in time and according to the highest technical, environmental and security standards. We have been satisfied with the rigorous tendering process and the positive response from the market."
Kosovo Economic Development Minister Valdrin Lluka said that "The Government of Kosovo is satisfied with the great interest of the market for the Kosova e Re project. The project reflects the need for additional energy capacity to meet the long-term security needs of electricity supply in Kosovo. GE's selection as a Preferred Bidder puts Kosovo one step closer to achieving a successful outcome of this process that started long ago with the support of many international institutions. The Government will participate in the negotiation process in order to further improve the conditions in the interest of the citizens of the Republic of Kosovo. The successful implementation of this project has the potential to change the country's overall economic prospects."
This project marks an important step for the economy of the Republic of Kosovo and will represent the largest foreign direct investment ever made in the country. The power plant will supply the essential energy base needed at the cheapest possible and reliable price to meet independently the growing demand for electricity in Kosovo, without relying on imports. Over the last decade, the Republic of Kosovo has imported electricity worth over 500 million euros. Using the latest technology and the many domestic fuel resources, 'Kosova e Re' will be one of the most contemporary coal-fired power plants in the world.
"Kosova e Re" will be instrumental in raising the quality of people's lives. The power plant will result in significant improvement of air quality by reducing emissions of major pollutants and will contribute to improving the health of people living and working in the region. Dust emissions will be reduced by 93%, while SOx and NOx will be reduced by 85% and 93% respectively, with CO2 reduced by 38%.
The new power plant will help boost and support Kosovo's economic development. Offering long-term supply security, 'New Kosovo' will end annual losses of 300m euros caused by the current unsecured electricity supply in Kosovo. This will create an attractive environment for foreign direct investment and will support growth in the economy. It is estimated that this major investment by ContourGlobal will raise the gross domestic product (GDP) by at least 2%, boosting thus the local and regional economic growth.