What is solar investment in Albania?

Solar investment in Albania for the next 10 years refers to the country’s strategic focus on expanding its solar energy capacity, driven by its advantageous geographical conditions and growing economic need for renewable energy sources.

Will solar power outpace wind development in Albania?

While Albania has considerable wind potential, particularly in areas like the Lezhe mountains along the Adriatic coast, solar energy is forecasted to outpace wind development in the coming years. BloombergNEF projects that wind energy will reach 370 megawatts of installed capacity by 2030, which is less than half of the forecasted solar growth.

Can Albania expand its solar power capacity?

Most solar power plants in Albania are small-scale installations, generally with capacities of less than 5 MW. This limited scale of deployment underscores the opportunity for Albania to expand its solar capacity significantly, particularly as the country relies heavily on imported fossil fuels to meet its energy needs.

Why is Albania launching a new phase of energy security?

The country is now entering a new phase — one that includes solar, wind, and international partnerships aimed at building long-term energy security. Hydropower has historically covered more than 90 percent of Albania’s electricity generation. The country’s rivers and mountain terrain made it a natural choice.

Can Albania grow in solar energy?

Albania’s potential for growth in solar energy is underscored by its renewable energy auction program, which has already begun to attract interest from both local and foreign firms.

Why is Albania rethinking its energy future?

Albania must then rely on expensive electricity imports to meet demand. This vulnerability pushed the country to rethink its energy future. Rather than relying on a single source, Albania is now actively investing in new technologies and diversifying its renewable mix.