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Albania re-offers four hydro power plants for sale
November 14, 2012 / 5:48 PM / 5 years ago

Albania re-offers four hydro power plants for sale

TIRANA, Nov 14 (Reuters) - Albania will re-offer four hydropower plants for sale in three weeks after investors withdrew in September because they were worried about the relationship they would have with the monopoly power producer KESH.

The would-be-buyers asked the authorities to improve the relationship they would have with the cash-strapped state-owned monopoly producer KESH, to which they would be selling power.

KESH produces almost all of the power in Albania, the state-run OST transmits it and CEZ Shperndarje, a unit of the Czech CEZ distributes it.

All three are locked in a cycle of debt to one another and KESH has not been able to pay some small local producers. CEZ might leave Albania in months after it failed to turn around the distribution company it bought more than three years ago.

The four small but freshly-revamped and profitable hydroelectric plants, two on the northern Mat River and two on the southern Bistrica, will be offered for sale on December 10.

Austria’s Verbund AG and EVN, France’s CNR, Austria’s Andritz Hydro, Italy’s Tozzi Sud Spa and Limak Energy and the steelmaker Kurum from Turkey have expressed interest to buy the plants, which are sold in pairs. (Reporting By Benet Koleka; editing by James Jukwey)

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