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EIB backs Kosovo’s transition to clean energy with major solar plant
Kosovo is taking a significant step towards a sustainable future with the upcoming construction of one of its largest solar power plants. The European Investment Bank (EIB) is leading the charge with a €33 million investment, a part of a comprehensive financial plan to support the project.
Located near the capital, Pristina, this solar facility will be a beacon of renewable energy, with an impressive capacity to generate clean electricity. This initiative is expected to have a meaningful impact on the nation’s energy supply, contributing to a decrease in reliance on coal and a shift towards environmentally friendly power sources.
This financial endeavour is supported by a combined effort from European institutions. Alongside the EIB, the KfW Development Bank is providing a €29 million loan, and the EU is adding a €32 million grant. This collective investment underscores Europe’s commitment to fostering renewable energy and promoting energy self-sufficiency in the region.
Once operational, the solar plant is anticipated to significantly contribute to Kosovo’s electricity needs, generating a substantial amount of energy annually and substantially reducing carbon emissions.
The EIB, with its focus on supporting long-term, sustainable investments, is optimistic about the positive effects of this project on Kosovo’s energy landscape. It is considered a crucial step towards meeting the country’s renewable energy targets. The investment also aligns with the broader EU Green Agenda, which prioritises ecological and economic sustainability.
Kosovo’s government is celebrating this milestone as a transformational moment in the nation’s energy policy. The plant not only promises to supply renewable energy but is also expected to drive economic growth, job creation, and skill development.
The EU has expressed that this investment is a strategic and long-term commitment to the prosperity and environmental health of the region. It is seen as an integral part of the collective move towards a green energy transition that benefits everyone.
For more in-depth information about the EIB’s efforts and projects in Kosovo and the wider Western Balkan region, resources are readily available on the EIB website. This solar plant project is more than just an investment in renewable energy—it is an investment in Kosovo’s green future and economic resilience.
About the European Investment Bank (EIB)
The EIB is the long-term financing institution of the European Union, owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. The EIB supports projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). www.eib.org
About EIB in the Western Balkans:
The EIB is a leading international financier in the Western Balkans. Since 2010, the Bank has financed projects worth over €10 billion in the region. Besides continuing its support for the reconstruction and upgrading of public infrastructure, the EIB has expanded into many new areas since 2010, including healthcare, research and development, education, and small and medium enterprises. For detailed information on EIB activities in the Western Balkans, please visit: LINK
For more information regarding the EIB’s projects in Kosovo, please see: LINK
