Athens-listed Μytilineos announced on Thursday that its Sustainable Engineering Solutions Business Unit (SES BU) has entered into a contract agreement with Operatori i Sistemit te Transmetimit Sh. a. (OST) for the development and execution of a 400-kilovolt network in the Republic of Albania.
In a public statement, the Mytilineos Group said that this is a strategic energy project for Albania that will aid the country in effectively participating in European energy markets in the future. By developing this 400 kV network in the southern part of Albania, the project will contribute to the energy transmission system by enhancing the interconnections with the electricity networks of neighboring countries and will enable conditions for trade exchanges, achieving a secure and reliable energy network system, the company’s statement reads.
Mytilineos reported that the project involves the construction of the new substation Elbasan 3 and the reinforcement and extension of substation Fier. The new Elbasan 3 substation will extend the existing 400/220/30 kV substation Elbasan 2 with a new switchyard on the 400 kV level to connect the lines to Tirana 2, Zemblak and Fier as well as to substations in North Macedonia, while modification will take place at the existing 400/220/30 kV substation Elbasan 2. At substation Fier, the existing 220 kV switchyard will be extended with new bays and a new 400/220/35 kV transformer.
This will be the first energy project for Mytilineos in Albania, heralding a new era for the Greek group in the broader Balkan region, through SES BU. The group said in its statement that it is strategically investing in the global goals of energy transition by applying its world-esteemed expertise in the dynamic development of sustainability projects.
The project in Albania is scheduled to be completed within 24 months, the company announced, in addition to 12 months for the warranty period, and the contract value for Mytilineos amounts to 21,173,500 euros.
The Greek company added that the project will be co-financed by the Federal Republic of Germany through KfW and by the European Union within the Western Balkans Investment Framework.