The largest solar power plant in the Western Balkans Karavasta is now fully built and ready to generate power

The largest solar power plant in the Western Balkans Karavasta is now fully built and ready to generate power

Voltalia (Euronext Paris, ISIN code: FR0011995588), an international player in renewable energy, announces that its Karavasta solar plant, with a capacity of 140 megawatts, located in the Fier district, south of Albania, is built and ready to generate power.

On 17th October, as part of a State visit, the French President Emmanuel Macron and the Albanian Prime Minister Edi Rama welcomed in Tirana representatives from both Albanian and French branches of Voltalia. The Karavasta solar plant is the largest in Albania and indeed the largest in the Western Balkans. It is now built and is expected to produce its first megawatt-hours in the coming weeks.

With a capacity of 140 megawatts, the plant can provide electricity equivalent to the annual consumption of 220,000 residents, which is twice the energy needs of Albanian cities such as Vlora or Kamza.

In addition to meeting these energy needs, the Karavasta solar plant will play a pivotal role in preserving the environment by preventing over 29,165 tonnes of CO₂ per annum, which is roughly 7% of the emissions from the Albanian industrial sector. The plant will thus significantly contribute to the ambitious target set by the Albanian government to reach 54.4% of renewable energies in the country's gross energy consumption by 2030.

This extensive project, carried out over about 200 hectares in less than 18 months, is supported by long-term sale contracts.

Sébastien Clerc, CEO of Voltalia, who responded to questions from French President Emmanuel Macron and Albanian Prime Minister Edi Rama, stated: "Voltalia thanks all stakeholders who have made the Karavasta project a reality, particularly the Albanian Council of Ministers, the Ministry of Infrastructure and Energy, as well as the European Bank for Reconstruction and Development. I also warmly thank everyone on our team who contributed to this success. Karavasta is a shining example of how quickly decarbonised and competitive local electricity production can be implemented."

Next in the agenda : Q3 2023 turnover, on 25th October 2023 (after market close)

About Voltalia (www.voltalia.com)

Voltalia is an international player in the renewable energy sector. The Group produces and sells electricity generated from wind, solar, hydraulic, biomass and storage facilities that it owns and operates. Voltalia has generating capacity in operation and under construction of more than 2.7 GW and a portfolio of projects under development representing total capacity of 16.1 GW.

Voltalia is also a service provider and supports its investor clients in renewable energy projects during all phases, from design to operation and maintenance.

As a pioneer in the corporate market, Voltalia provides a global offer to private companies, ranging from the supply of green electricity and energy efficiency services to the local production of their own electricity.

With more than 1,700 employees in 20 countries on 3 continents, Voltalia has capacity to act globally for its customers.

Voltalia is listed on the regulated market of Euronext Paris, compartment B (FR0011995588 – VLTSA) and is part of the SBF 120, Enternext Tech 40 and CAC Mid & Small indices. The Group is also included in the Gaïa-Index, an index for socially responsible midcaps.

Voltalia
Loan Duong, Head of Communications & IR                                                                      Seitosei Actifin
l.duong@voltalia.com                                                                             Press Contact: Jennifer Jullia
Investor Relations : invest@voltalia.com                                              jjullia@actifin.fr   ^. T. +33 (0)1 56 88 11 19

 

Attachment

• The largest solar power plant in the Western Balkans Karavasta is now fully built and ready to generate power