Norwegian renewable energy company Statkraft has completed a feasibility study for a proposed pumped-storage hydropower plant in Albania, which could have a capacity of up to 1,620 megawatts (MW). The project would expand upon the existing Moglica hydropower plant on the Devoll River, and the formal proposal has now been submitted to Albanian authorities for evaluation.
In its announcement, Statkraft emphasized that the feasibility analysis was conducted with a long-term perspective on regional energy demands through 2030 and beyond. The proposed plant is designed to support future electricity market needs while fostering a transparent and stable business environment both in Albania and the wider region.
However, the final investment decision remains pending. It will depend on several key factors, including the pace of renewable energy deployment in the region, Albania’s integration into the EU energy market, enhancements to grid infrastructure, and the implementation of effective risk management strategies.
The project is part of a broader concession agreement signed in 2008 between Statkraft and the Albanian government. This agreement aims to develop and operate two hydropower plants along the Devoll River—Moglica and Banja—which together currently produce approximately 700 gigawatt-hours (GWh) of electricity annually.
If approved and constructed, the pumped-storage facility would significantly strengthen Albania’s renewable energy capacity and its role in the regional energy market.