{"id":944,"date":"2024-11-14T06:43:40","date_gmt":"2024-11-14T02:43:40","guid":{"rendered":"https:\/\/www.utilitybusinessmena.com\/?p=944"},"modified":"2024-11-14T06:43:40","modified_gmt":"2024-11-14T02:43:40","slug":"masdar-kesh-sign-deal-to-explore-renewable-energy-projects-in-albania","status":"publish","type":"post","link":"https:\/\/cheeltech.com\/utilitybusinessmena\/electricity\/masdar-kesh-sign-deal-to-explore-renewable-energy-projects-in-albania","title":{"rendered":"Masdar, KESH sign deal to explore renewable energy projects in Albania"},"content":{"rendered":"\n

Abu Dhabi\u2019s Masdar<\/a> and Albania\u2019s state-owned energy corporation KESH<\/a> have signed an agreement to explore joint ventures in renewable energy<\/a> that seek to transform Albania\u2019s clean energy sector.<\/p>\n\n\n\n

The deal, signed on the sidelines of COP29<\/a> in Baku, Azerbaijan, is aimed at developing gigawatt-scale projects focused on solar, wind, and hybrid energy with possible battery storage integration, Masdar announced in a statement.<\/p>\n\n\n\n

The projects are expected to address domestic energy demand while expanding Albania\u2019s capacity to export renewable power to neighboring countries.<\/p>\n\n\n\n

The agreement was witnessed by high-profile officials, including Albanian Prime Minister Edi Rama, UAE Minister of Industry Dr. Sultan Al Jaber, and Albanian Deputy Prime Minister Belinda Balluku,<\/p>\n\n\n\n

\u201cThis partnership exemplifies the ambition needed to advance the global energy transition,\u201d said Masdar CEO Mohamed Jameel Al Ramahi. He added that Albania\u2019s natural energy potential, coupled with Masdar\u2019s expertise in renewable technology, will facilitate sustainable energy production at scale.<\/p>\n\n\n\n

The collaboration is well aligned with Albania\u2019s green energy goals as well as the UAE\u2019s objective to triple renewable energy capacity by 2030, Al Jaber noted. \u201cAgreements like these help realise the UAE Consensus, aiming to increase renewable energy capacity globally,\u201d he said.<\/p>\n\n\n\n

KESH, Albania\u2019s largest energy producer, aims to leverage this partnership to enhance energy resilience and diversify its energy sources, according to KESH CEO Erald Elezi.<\/p>\n\n\n\n

\u201cThis joint venture with Masdar underscores KESH\u2019s commitment to sustainable development, and it strengthens our position as a clean energy leader in the Balkans,\u201d Elezi stated.<\/p>\n\n\n\n

Albania has relied heavily on hydropower, but expanding into solar and wind could improve the stability of its energy supply, officials said.<\/p>\n\n\n\n

Balluku, Albania\u2019s Deputy Prime Minister, noted the broader significance of the partnership, stressing that it aligns with Albania\u2019s goals for a sustainable energy sector.<\/p>\n\n\n\n

\u201cBy combining Albania\u2019s renewable resources with Masdar\u2019s expertise, we\u2019re advancing Albania\u2019s role in the European energy market,\u201d she commented.<\/p>\n\n\n\n

Masdar has significantly expanded its presence in Southeast Europe, recently closing a 154 MW wind project in Serbia and proposing an acquisition of TERNA ENERGY in Greece, with a target capacity of 6 GW by 2029.<\/p>\n\n\n\n

The joint venture with KESH is part of Masdar\u2019s regional strategy to enhance its renewable energy portfolio and contribute to Europe\u2019s clean energy objectives.<\/p>\n","protected":false},"excerpt":{"rendered":"

The deal is aimed at developing gigawatt-scale projects focused on solar, wind, and hybrid energy with possible battery storage integration<\/p>\n","protected":false},"author":2,"featured_media":945,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1105,36,40,428,41,559,653],"tags":[789,141,300,1106,544,1107,170,301],"class_list":{"0":"post-944","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cop29","8":"category-electricity","9":"category-news","10":"category-power","11":"category-renewable-energy","12":"category-solar","13":"category-wind-energy","14":"tag-azerbaijan","15":"tag-cop29","16":"tag-dr-sultan-al-jaber","17":"tag-erald-elezi","18":"tag-hydropower","19":"tag-kesh","20":"tag-masdar","21":"tag-mohamed-jameel-al-ramahi"},"_links":{"self":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts\/944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/comments?post=944"}],"version-history":[{"count":0,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts\/944\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/media\/945"}],"wp:attachment":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/media?parent=944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/categories?post=944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/tags?post=944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}