TIRANA, March 12 – The Assembly of Albania approved a draft law ratifying a loan agreement between the Republic of Albania and the German development bank KfW for the rehabilitation of the Fierza hydropower plant.

The agreement provides a €40 million loan to finance the plant’s electromechanical rehabilitation. The project aims to improve safety and increase efficiency in electricity generation from renewable sources.

The planned works will upgrade equipment technology and strengthen operational reliability. They will also extend the plant’s operational life by at least 30 years.

Meanwhile, the new financing adds to earlier support for the project. Technical assessments by international experts identified additional rehabilitation measures.

The Albanian Power Corporation will implement the project. Authorities expect the works to conclude in July 2030.

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