Through its Sustainable Engineering Solutions business unit (SES BU), Mytilineos Group has reached an agreement with Operatori i Sistemit të Transmetimit (OST) to develop a 400 kV power grid in Albania.
The project includes the construction of the Elbasan 3 substation and the reinforcement of the Fier substation
The project includes the construction of the Elbasan 3 substation and the upgrade and expansion of the Fier substation. Elbasan 3 will expand the existing 400/220/30 kV substation Elbasan 2, build a new switch station on 400kV to connect Tirana 2, Zemblak and Fier, and the substations in North Macedonia, and at the same time renovate the existing substation Mytilineos said that the 400/220/30 kV substation Elbasan 2.
The company added that at the Fier substation, the existing 220 kV switchyard will be expanded with new bays and 400/220/35kV transformers.
Through the development of a 400 kV power grid in southern Albania, the project will strengthen interconnection with neighboring countries’ power grids
The project is jointly funded by Germany through KfW and the European Union within the framework of investment in the Western Balkans.
The company said that by developing a 400 kV network in southern Albania, the project will contribute to the energy transmission system and create conditions for power trade by strengthening the interconnection with neighboring countries' power networks.
According to the Industrial and Energy Group, its first energy project in Albania through its subsidiary SES BU heralds a new era in the vast Balkans.
The project is planned to be completed within 24 months and the warranty period is 12 months.
Mytilineos also announced the issuance of 500 million euros of green senior unsecured notes with a maturity of 5.5 years.
The company has entrusted BNP Paribas, Citigroup and HSBC as global coordinators and joint bookrunners to arrange a series of virtual fixed income investor meetings in Europe starting from April 19.
The company stated that the amount equivalent to the net proceeds from the bills will be used for financing or refinancing eligible green projects that are fully or partially in line with the corporate green bond framework.
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The project is implemented by the Civil Society Organization for Sustainable Development Center
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