Kosovo and London-listed power firm ContourGlobal said on Friday they had chosen...
PRISTINA - Kosovo and London-listed power firm ContourGlobal said on Friday they had chosen a consortium of General Electric subsidiaries to build and equip a new 500 megawatt coal-fired power plant in the Balkan country.
Although sitting on more than 14 billion tonnes of proven lignite reserves, the fifth largest in the world, Kosovo is struggling with power shortages. The new plant is designed to meet nearly half of the country’s power demand. “Successful implementation of this project has the potential to reshape the overall economic perspective of the country,” he added.
The project is valued at $1.3 billion, with financing expected to come from a mix of the Overseas Private Investment Corporation and export credit agencies, ContourGlobal’s CEO told Reuters in October.Currently around 90 percent of Kosovo’s electricity is produced by two ailing coal-fired plants — Kosova A and Kosova B — which are among Europe’s worst polluters.
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