Energy projects are picking up steam again after the crisis that began in 2021, with businesses now expediting their implementation plans.

In the month of August alone, the Energy Regulatory Authority (ERE) initiated licensing procedures for three hydroelectric power plants and two solar facilities, boasting a combined installed capacity of around 15 MW.

To be specific, the ERE began the licensing process for HEC Selca, operated by “Selca Energji”, which increased its capacity from 1.6 MW to over 1.9 MW.

Additionally, two other hydroelectric power plants, part of a joint project by “Gealb Energy”, applied for licenses with a total capacity of 9.3 MW.

Furthermore, two photovoltaic projects, focusing on solar installations of up to 2 MW each, are also in the licensing process, although they are not subject to concessions.

Firstly, the ERE announced the licensing process for the Joint Venture “2B 1979 and 2T sh.p.k.”, engaging in the production of electricity from a 2 MW photovoltaic power plant located in the Gryka area, Municipality of Fier, Fier County.

Secondly, the company “IDI 2005” is seeking a license for the production of electricity from its 2 MW photovoltaic power plant named “TEKSOEN 1”, situated in the Administrative Unit of Povelça, Municipality of Fier, Fier County.

New licenses have been granted to numerous companies this year, as the energy crisis has prompted increased investments in the sector.

This trend is evident in both self-consumption projects and commercial ventures. The enhanced return on investment is a direct outcome of the record-high energy prices observed in energy markets in 2022, which, although more stable this year, remain higher than historical averages.

Investments in photovoltaic systems appear to be advancing rapidly, as they spearhead diversification efforts, serving as a means to bolster the country’s energy security, which was severely tested during the peak of last year’s energy crisis.