The security of electricity supply increases in the conditions of the price crisis. Albania is getting ready to install the first two floating power plants in the vicinity of the new fishing port in Vlora, which will produce 110 megawatts of electricity, the amount equal to about 13 percent of the necessary consumption in the country.
The country’s first floating power plant is expected to be in Albania within these days.
The plant, jointly owned by two large groups, Summit and United, was sold to Albania after serving and generating electricity reliably for more than 20 years in Bangladesh.
The floating power plant, known as Tiger-I and Tiger-III, will serve Albania for two years. According to the sellers’ official release, “the excellent condition of the barges, engines and generating equipment prompted a European country to accept the barges for continuous power generation,” the statement said.
Summit Group and its energy units have won many international awards and accolades for their operations and execution excellence.
The company that sold these floating power plants is Bangladesh’s first independent power producer, established on October 15, 1997 as a private limited company.
On July 19, 2009 the company was converted into a limited company, it was originally sponsored by Summit Group and United Group together with their foreign partner El Paso Corporation (El Paso), USA, one of the largest and most diversified companies in world for natural gas exploration and pipelines and by a Finnish company, while Finland is known as the leading producer of such power plants in the world.
The floating plant will work for two years, will cost 40 million Euros and will remain owned by the Albanian Electric Power Corporation until the end of the contract. The thermal energy will be produced with heat oil, or crude oil and will cost much more freely than the current energy market.
In addition to this thermal asset, the Albanian government, in cooperation with the American Department of Energy, starting from last February, has ensured cooperation with a well-known American company with a lot of experience in the energy production sector, but not only.
The US Department of Energy has chosen Albania to launch and deliver a study, which is nearing completion, regarding Albania’s return to a LPG distribution station in the Western Balkans region.
In addition to this fact, American companies are interested in the construction of the Vlora TEC, increasing the capacity from 125 to 250 or 300 megawatts, depending on the efficiency that the business plan will have and building in the Vlora area, that is, in the industrial area of Vlora, another floating terminal, in terms of small-scale distribution of liquefied gas.