The European Bank for Reconstruction and Development has loaned 16 million euros to the Albanian power corporation to update its aging transmission technology, the Finance Ministry said yesterday.
The state-owned Albanian Electro-Energy Corporation, or KESH, will use the money from a 12-year loan to replace outdated transmission technology in five northern areas, according to a statement.
Albania has suffered chronic electricity problems during the post-communist period since 1990 due to chronic nonpayment, poor management, a poor system and lack of money.
Ninety percent of the country’s electricity is produced in the north from hydroelectric plants that suffer from lack of rain and work at less than half capacity due to outdated technology.
(AP)