Renewables company Voltalia said its Karavasta Solar Polar Power Plant in Albania delivered 45 GWh of electricity in the first quarter of 2024.
Revenues generation at a high price for the power plant of Karavasta, and the indexation of selling prices to inflation have contributed to a 20% year-to-year surge in the company’s energy sales to 75 million euros in the first quarter, Voltalia said in a quarterly report.
The 140 MW Karavasta Solar delivered the first GWh of electricity in December last year.
The plant is expected to deliver 265 GWh annually, according to Karavasta Solar’s website. Half of the generated electricity is sold to electricity distribution system operator OSHEE under a 15-year power purchase agreement, while the rest will be used to supply private operators under long-term deals.
In 2020, Voltalia secured a 30-year concession contract with the Albanian government for the project. Investment in the plant was estimated at 135 million euros.