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Kosovo and London-listed power company ContourGlobal said Friday it had chosen a General Electric subsidiary to build and equip a new 500-megawatt (MW) coal-fired power plant
in the Balkan country.
Kosovo, despite having more than 14 billion tonnes of proven lignite reserves, is the fifth-largest in the world, but is struggling with power shortages
.
The new plant is designed to meet nearly half of the country's electricity needs
.
Kosovo's Minister of Economy, Valdrin Lluka, said in a statement that "by choosing GE as the preferred bidder, the successful implementation of the project has the potential to reshape the overall economic outlook
of the country.
" ”
Other bidders for the project are China Mechanical Engineering Corporation (CMEC), South Korea's Hyundai Corporation and Turkey's ENKA Foundation, Japan's Mitsubishi Hitachi Power Systems and Spain's Tecnicas Reunidas
.
The project is valued at US$1.
3 billion and financing is expected to come from overseas private investment companies (OPICs) and export credit agencies
.
Construction of the plant is expected to begin
later this year.
About 90 percent of Kosovo's electricity currently comes from two sick coal-fired power plants – Kosova A and Kosova B – one of
Europe's most polluting power plants.
Environmentalists complain that the new plant could lock Kosovo into a future powered by lignite, the dirtiest form of coal
.
However, the government says the new plant will burn 40 percent less coal and reduce emissions
by a factor of 20.
The World Bank said last year it would not support the project because it would use coal instead of renewable fuels
.
Kosovo and London-listed power company ContourGlobal said Friday it had chosen a General Electric subsidiary to build and equip a new 500-megawatt (MW) coal-fired power plant
in the Balkan country.
Kosovo, despite having more than 14 billion tonnes of proven lignite reserves, is the fifth-largest in the world, but is struggling with power shortages
.
The new plant is designed to meet nearly half of the country's electricity needs
.
Kosovo's Minister of Economy, Valdrin Lluka, said in a statement that "by choosing GE as the preferred bidder, the successful implementation of the project has the potential to reshape the overall economic outlook
of the country.
" ”
Other bidders for the project are China Mechanical Engineering Corporation (CMEC), South Korea's Hyundai Corporation and Turkey's ENKA Foundation, Japan's Mitsubishi Hitachi Power Systems and Spain's Tecnicas Reunidas
.
The project is valued at US$1.
3 billion and financing is expected to come from overseas private investment companies (OPICs) and export credit agencies
.
Construction of the plant is expected to begin
later this year.
About 90 percent of Kosovo's electricity currently comes from two sick coal-fired power plants – Kosova A and Kosova B – one of
Europe's most polluting power plants.
Environmentalists complain that the new plant could lock Kosovo into a future powered by lignite, the dirtiest form of coal
.
However, the government says the new plant will burn 40 percent less coal and reduce emissions
by a factor of 20.
The World Bank said last year it would not support the project because it would use coal instead of renewable fuels
.
