Norwegian company Statkraft has announced the commencement of a feasibility study for the construction of a 1200-megawatt pumped hydroelectric power plant in Albania. Currently, the company operates two hydroelectric power plants in our country, Banja and Moglica.
 |
The parent company today published its financial results on the stock exchange, reporting the second-best financial performance in its history for the year 2023. Following record highs in the stock market in 2022, the company managed to generate a net profit after taxes of 2.2 billion euros last year.
Among other things, in the announcement to all shareholders, Norwegians highlighted as one of the most important news of the last quarter the initiation of the pre-feasibility study for a 1,200 MW pumped storage power plant.
At the end of last year, the company had also announced the idea of using the Moglica reservoir, which holds 380 million cubic meters of water, as a base for the new pumped storage plant, as turbines could also be installed underground.
This would significantly increase annual electricity production in Albania and improve the management of the Devoll cascade. The company expects the study phase to be completed this year, paving the way for decision-making on whether or not to make such an investment. But the fact that this project is considered one of the most important by Statkraft makes it even more likely to start the implementation phase in 2025 and production by 2030.