Albania marked a significant milestone in its energy sector with the inauguration of the Karavasta Photovoltaic Park, the largest solar energy facility in the Western Balkans. Located in Karavasta, this ambitious project is a key step in the country’s shift towards renewable energy and energy diversification.
The inauguration ceremony was attended by Albania’s Deputy Prime Minister, Belinda Balluku, who praised the project as a symbol of successful foreign investment and a model for the country's future in energy development.
“This park carries great value — it is the largest photovoltaic park in the Balkans. We have achieved a record-low price. Voltalia is a model of successful foreign investment in our energy sector,” Balluku stated, adding that another solar park is planned in Spitallë as a continuation of this strategy.
Representatives from the European Bank for Reconstruction and Development (EBRD) also commended the project, emphasizing its alignment with environmental standards and the broader urgency of the energy transition.
“This is a project built according to the highest environmental standards. At EBRD, we recognize the urgency of the energy transition, which is why we prioritize financing renewable energy,” said the EBRD representative.
The Karavasta Photovoltaic Park has an installed capacity of 140 megawatts. Under the agreement signed with the Albanian government, the French company Voltalia will sell electricity at a fixed price of 24.89 euros per megawatt-hour for 15 years.
This project is expected to contribute significantly to Albania’s energy independence and sustainability goals, setting a new standard for green energy investments in the region.