{"id":12371,"date":"2024-11-13T16:05:32","date_gmt":"2024-11-13T09:05:32","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=12371"},"modified":"2024-11-13T16:05:32","modified_gmt":"2024-11-13T09:05:32","slug":"masdar-and-kesh-sign-agreement-to-explore-renewable-energy-joint-venture-in-albania","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=12371","title":{"rendered":"Masdar and KESH Sign Agreement to Explore Renewable Energy Joint Venture in Albania"},"content":{"rendered":"<table border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2514011\/5023778\/MASDAR_Logo.jpg?p=medium600\" border=\"0\" alt=\"\" title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\" \/><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul type=\"disc\">\n<li><i>Agreement witnessed by the Prime Minister of <span class=\"xn-location\">Albania<\/span>, HE <span class=\"xn-person\">Edi Rama<\/span><\/i><\/li>\n<li><i>Joint venture term sheet to explore the deployment of GW-scale renewable energy projects in <span class=\"xn-location\">Albania<\/span> for the supply of power to <span class=\"xn-location\">Albania<\/span> and neighboring countries via cross-border interconnections<\/i><\/li>\n<li><i>Agreement will focus on solar, wind, and hybrid renewable projects with potential battery storage<\/i><\/li>\n<\/ul>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">BAKU, Azerbaijan<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Nov. 13, 2024<\/span><\/span> \/PRNewswire\/ &#8212;\u00a0Abu Dhabi Future Energy Company PJSC (Masdar) and Korporata Elektroenergjitike Shqiptare (KESH) \u2013 Albania Power Corporation &#8211; have signed a joint venture term sheet agreement to explore the development of gigawatt-scale renewable projects in <span class=\"xn-location\">Albania<\/span>.<\/p>\n<div dir=\"ltr\">   <a href=\"https:\/\/mma.prnasia.com\/media2\/2556382\/Masdar_Albania_signing.jpg?p=medium600\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" title=\"Albania Signing\" src=\"https:\/\/mma.prnasia.com\/media2\/2556382\/Masdar_Albania_signing.jpg?p=medium600\" alt=\"Albania Signing\" align=\"middle\" \/><\/a>   <br \/>   <span>Albania Signing<\/span>  <\/div>\n<p>The signing ceremony took place in <span class=\"xn-location\">Baku, Azerbaijan<\/span> on the sidelines of <span class=\"xn-money\">COP29<\/span>, witnessed by the Prime Minister of <span class=\"xn-location\">Albania<\/span>, HE <span class=\"xn-person\">Edi Rama<\/span>, His Excellency Dr. <span class=\"xn-person\">Sultan Al Jaber<\/span>, UAE Minister of Industry and Advanced Technology, <span class=\"xn-money\">COP28<\/span> President and Chairman of Masdar, and Her Excellency Belinda Balluku, Deputy Prime Minister and Minister of Infrastructure and Energy for <span class=\"xn-location\">Albania<\/span>. The agreement was signed by <span class=\"xn-person\">Mohamed Jameel Al Ramahi<\/span>, Chief Executive Officer of Masdar, and <span class=\"xn-person\">Erald Elezi<\/span>, Chief Executive Officer of KESH.<\/p>\n<p>The joint venture term sheet agreement aims to develop, construct, and operate renewable energy projects utilizing a range of renewable technologies, including solar PV, wind, and hybrid solutions, with potential integration of battery storage. The energy produced is expected to be supplied to the Albanian market and exported to neighboring countries.<\/p>\n<p><b>Dr. <span class=\"xn-person\">Sultan Al Jaber<\/span>, UAE Minister of Industry and Advanced Technology, <span class=\"xn-money\">COP28<\/span> President and Chairman of Masdar,<\/b> said: &#8220;This agreement is a testament to the UAE&#8217;s unwavering commitment to pioneering clean energy solutions on a global scale. By leveraging the UAE&#8217;s world-class expertise in renewable energy and <span class=\"xn-location\">Albania&#8217;s<\/span> abundant natural resources, our purpose-built, future-ready infrastructure will deliver more energy with fewer emissions to more people than ever before. Agreements like these will help realize the ambitious goals of the historic UAE Consensus, aimed at tripling renewable energy capacity by 2030, and driving low-carbon socio economic progress.&#8221;<\/p>\n<p><b>Her Excellency Belinda Balluku, Deputy Prime Minister &amp; Minister of infrastructure and Energy<\/b>, commented: &#8220;The partnership between KESH and Masdar is a significant moment not only for <span class=\"xn-location\">Albania&#8217;s<\/span> journey towards a sustainable and secure energy sector, but also embodies the spirit of the strategic partnership between <span class=\"xn-location\">Albania<\/span> and the <span class=\"xn-location\">United Arab Emirates<\/span> and underscores the importance of international cooperation in achieving a green, sustainable future. By combining <span class=\"xn-location\">Albania&#8217;s<\/span> rich renewable energy potential with Masdar&#8217;s global expertise, we are not only advancing our domestic energy goals but also positioning <span class=\"xn-location\">Albania<\/span> as a key player in the European energy market, while enhancing our energy security, creating new economic opportunities, and contributing to our efforts to meet global climate goals.&#8221;<\/p>\n<p>The partnership aims to leverage KESH&#8217;s position as <span class=\"xn-location\">Albania&#8217;s<\/span> leading energy producer and Masdar&#8217;s global expertise in renewable energy development to accelerate <span class=\"xn-location\">Albania&#8217;s<\/span> clean energy transition. A landmark in the development of renewable energy capacity in <span class=\"xn-location\">Albania<\/span>, the potential joint venture will benefit from Masdar&#8217;s relationships with technology providers and financial institutions, as well as its operational expertise, while capitalizing on KESH&#8217;s local market knowledge and existing infrastructure. Through this collaboration, Masdar and KESH are advancing <span class=\"xn-location\">Albania&#8217;s<\/span> decarbonization initiatives and contributing to the broader European energy market.<\/p>\n<p><b><span class=\"xn-person\">Mohamed Jameel Al Ramahi<\/span>, Chief Executive Officer of Masdar<\/b>, added: &#8220;The joint venture term sheet with KESH will mark a significant milestone in Masdar&#8217;s expansion into the Balkans and <span class=\"xn-location\">Southeast Europe<\/span>. By combining our expertise in large-scale renewable projects with KESH&#8217;s deep understanding of the Albanian energy market, we are poised to make a substantial contribution to <span class=\"xn-location\">Albania&#8217;s<\/span> clean energy transition. As Masdar targets 100GW by 2030, this joint venture with our partner KESH exemplifies the scale and ambition needed to advance the global energy transition and we look forward to further collaborations in <span class=\"xn-location\">Albania<\/span> and the Eastern Balkans&#8221;<\/p>\n<p><b><span class=\"xn-person\">Erald Elezi<\/span>, Chief Executive Officer of KESH<\/b>, said<b>: &#8220;<\/b>This joint venture with Masdar is a pivotal advancement in <span class=\"xn-location\">Albania&#8217;s<\/span> renewable energy journey, underscoring KESH&#8217;s commitment to sustainable development and energy diversification. Although <span class=\"xn-location\">Albania<\/span> already benefits from a predominantly green energy mix, this partnership will enhance our energy resilience, improve stability, and open avenues for clean energy exports to the region. By working with a global leader like Masdar, we are poised to bring innovative renewable technologies to <span class=\"xn-location\">Albania<\/span>, supporting our role as a clean energy leader in the Balkans and strengthening the country&#8217;s position within the broader European energy landscape.&#8221;<\/p>\n<p>The joint venture term sheet between Masdar and KESH is a crucial component of the broader strategic partnership between the UAE and <span class=\"xn-location\">Albania<\/span>. It will play a vital role in increasing <span class=\"xn-location\">Albania&#8217;s<\/span> renewable energy capacity, meeting local demand while supporting its energy export capabilities to neighboring countries, and contributing to the region&#8217;s energy security and sustainability goals.<\/p>\n<p>Masdar has significantly strengthened its presence in <span class=\"xn-location\">Southeast Europe<\/span> with its\u00a0proposed acquisition of TERNA ENERGY, the largest developer and investor in renewable energy projects in <span class=\"xn-location\">Greece<\/span> with a target capacity of 6GW by 2029. In addition, Masdar increased its investment in the Balkans with the recently announced financial close on the 154MW \u010cibuk 2 project in Serbia, adding to its existing 158MW \u010cibuk 1 wind farm and bringing its total capacity in the country to over 300MW.<\/p>\n<p><b><u>About Masdar<\/u><\/b><\/p>\n<p>Masdar (Abu Dhabi Future Energy Company)\u00a0is one of the world&#8217;s fastest-growing renewable energy companies. As a global clean energy pioneer, Masdar is advancing the development and deployment of solar, wind, geothermal, battery storage and green hydrogen technologies to accelerate the energy transition and help the world meet its net-zero ambitions. Established in 2006, Masdar has developed and invested in projects in over 40 countries with a combined capacity of over 31.5 gigawatts (GW), providing affordable clean energy access to those who need it most and helping to power a more sustainable future.<\/p>\n<p>Masdar is jointly owned by TAQA, ADNOC, and Mubadala, and is targeting a renewable energy portfolio capacity of 100GW by 2030 while aiming to be a leading producer of green hydrogen by the same year.<\/p>\n<p>For more information, please visit:\u00a0<a href=\"https:\/\/www.masdar.ae\/\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/www.masdar.ae<\/a>\u00a0and connect: facebook.com\/Masdar.ae and twitter.com\/Masdar<\/p>\n<p><b><u>About KESH<\/u><\/b><\/p>\n<p>Korporata Elektroenergjitike Shqiptare (KESH) is <span class=\"xn-location\">Albania&#8217;s<\/span> leading energy producer and a cornerstone of the country&#8217;s power sector. KESH plays a critical role in <span class=\"xn-location\">Albania&#8217;s<\/span> energy landscape, primarily through its extensive hydropower assets, which provide the majority of <span class=\"xn-location\">Albania&#8217;s<\/span> electricity from renewable sources. Operating some of the largest hydropower plants in the Balkans, KESH is a key contributor to <span class=\"xn-location\">Albania&#8217;s<\/span> green energy profile and energy security. KESH is committed to enhancing <span class=\"xn-location\">Albania&#8217;s<\/span> renewable energy capacity and ensuring energy resilience for future generations. By exploring new opportunities in solar, wind, and energy storage, KESH aims to diversify its energy portfolio and establish <span class=\"xn-location\">Albania<\/span> as a regional leader in sustainable energy solutions. Through strategic partnerships, KESH continues to support <span class=\"xn-location\">Albania&#8217;s<\/span> role in the broader European energy market, driving forward the country&#8217;s vision for a cleaner and more sustainable future.<\/p>","protected":false},"excerpt":{"rendered":"<p><!-- wp:html --><\/p>\n<table border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2514011\/5023778\/MASDAR_Logo.jpg?p=medium600\" border=\"0\" alt=\"\" title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\" \/><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul type=\"disc\">\n<li><i>Agreement witnessed by the Prime Minister of <span class=\"xn-location\">Albania<\/span>, HE <span class=\"xn-person\">Edi Rama<\/span><\/i><\/li>\n<li><i>Joint venture term sheet to explore the deployment of GW-scale renewable energy projects in <span class=\"xn-location\">Albania<\/span> for the supply of power to <span class=\"xn-location\">Albania<\/span> and neighboring countries via cross-border interconnections<\/i><\/li>\n<li><i>Agreement will focus on solar, wind, and hybrid renewable projects with potential battery storage<\/i><\/li>\n<\/ul>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">BAKU, Azerbaijan<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Nov. 13, 2024<\/span><\/span> \/PRNewswire\/ &#8212;\u00a0Abu Dhabi Future Energy Company PJSC (Masdar) and Korporata Elektroenergjitike Shqiptare (KESH) \u2013 Albania Power Corporation &#8211; have signed a joint venture term sheet agreement to explore the development of gigawatt-scale renewable projects in <span class=\"xn-location\">Albania<\/span>.<\/p>\n<div dir=\"ltr\">   <a href=\"https:\/\/mma.prnasia.com\/media2\/2556382\/Masdar_Albania_signing.jpg?p=medium600\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" title=\"Albania Signing\" src=\"https:\/\/mma.prnasia.com\/media2\/2556382\/Masdar_Albania_signing.jpg?p=medium600\" alt=\"Albania Signing\" align=\"middle\" \/><\/a>   <br \/>   <span>Albania Signing<\/span>  <\/div>\n<p>The signing ceremony took place in <span class=\"xn-location\">Baku, Azerbaijan<\/span> on the sidelines of <span class=\"xn-money\">COP29<\/span>, witnessed by the Prime Minister of <span class=\"xn-location\">Albania<\/span>, HE <span class=\"xn-person\">Edi Rama<\/span>, His Excellency Dr. <span class=\"xn-person\">Sultan Al Jaber<\/span>, UAE Minister of Industry and Advanced Technology, <span class=\"xn-money\">COP28<\/span> President and Chairman of Masdar, and Her Excellency Belinda Balluku, Deputy Prime Minister and Minister of Infrastructure and Energy for <span class=\"xn-location\">Albania<\/span>. The agreement was signed by <span class=\"xn-person\">Mohamed Jameel Al Ramahi<\/span>, Chief Executive Officer of Masdar, and <span class=\"xn-person\">Erald Elezi<\/span>, Chief Executive Officer of KESH.<\/p>\n<p>The joint venture term sheet agreement aims to develop, construct, and operate renewable energy projects utilizing a range of renewable technologies, including solar PV, wind, and hybrid solutions, with potential integration of battery storage. The energy produced is expected to be supplied to the Albanian market and exported to neighboring countries.<\/p>\n<p><b>Dr. <span class=\"xn-person\">Sultan Al Jaber<\/span>, UAE Minister of Industry and Advanced Technology, <span class=\"xn-money\">COP28<\/span> President and Chairman of Masdar,<\/b> said: &#8220;This agreement is a testament to the UAE&#8217;s unwavering commitment to pioneering clean energy solutions on a global scale. By leveraging the UAE&#8217;s world-class expertise in renewable energy and <span class=\"xn-location\">Albania&#8217;s<\/span> abundant natural resources, our purpose-built, future-ready infrastructure will deliver more energy with fewer emissions to more people than ever before. Agreements like these will help realize the ambitious goals of the historic UAE Consensus, aimed at tripling renewable energy capacity by 2030, and driving low-carbon socio economic progress.&#8221;<\/p>\n<p><b>Her Excellency Belinda Balluku, Deputy Prime Minister &amp; Minister of infrastructure and Energy<\/b>, commented: &#8220;The partnership between KESH and Masdar is a significant moment not only for <span class=\"xn-location\">Albania&#8217;s<\/span> journey towards a sustainable and secure energy sector, but also embodies the spirit of the strategic partnership between <span class=\"xn-location\">Albania<\/span> and the <span class=\"xn-location\">United Arab Emirates<\/span> and underscores the importance of international cooperation in achieving a green, sustainable future. By combining <span class=\"xn-location\">Albania&#8217;s<\/span> rich renewable energy potential with Masdar&#8217;s global expertise, we are not only advancing our domestic energy goals but also positioning <span class=\"xn-location\">Albania<\/span> as a key player in the European energy market, while enhancing our energy security, creating new economic opportunities, and contributing to our efforts to meet global climate goals.&#8221;<\/p>\n<p>The partnership aims to leverage KESH&#8217;s position as <span class=\"xn-location\">Albania&#8217;s<\/span> leading energy producer and Masdar&#8217;s global expertise in renewable energy development to accelerate <span class=\"xn-location\">Albania&#8217;s<\/span> clean energy transition. A landmark in the development of renewable energy capacity in <span class=\"xn-location\">Albania<\/span>, the potential joint venture will benefit from Masdar&#8217;s relationships with technology providers and financial institutions, as well as its operational expertise, while capitalizing on KESH&#8217;s local market knowledge and existing infrastructure. Through this collaboration, Masdar and KESH are advancing <span class=\"xn-location\">Albania&#8217;s<\/span> decarbonization initiatives and contributing to the broader European energy market.<\/p>\n<p><b><span class=\"xn-person\">Mohamed Jameel Al Ramahi<\/span>, Chief Executive Officer of Masdar<\/b>, added: &#8220;The joint venture term sheet with KESH will mark a significant milestone in Masdar&#8217;s expansion into the Balkans and <span class=\"xn-location\">Southeast Europe<\/span>. By combining our expertise in large-scale renewable projects with KESH&#8217;s deep understanding of the Albanian energy market, we are poised to make a substantial contribution to <span class=\"xn-location\">Albania&#8217;s<\/span> clean energy transition. As Masdar targets 100GW by 2030, this joint venture with our partner KESH exemplifies the scale and ambition needed to advance the global energy transition and we look forward to further collaborations in <span class=\"xn-location\">Albania<\/span> and the Eastern Balkans&#8221;<\/p>\n<p><b><span class=\"xn-person\">Erald Elezi<\/span>, Chief Executive Officer of KESH<\/b>, said<b>: &#8220;<\/b>This joint venture with Masdar is a pivotal advancement in <span class=\"xn-location\">Albania&#8217;s<\/span> renewable energy journey, underscoring KESH&#8217;s commitment to sustainable development and energy diversification. Although <span class=\"xn-location\">Albania<\/span> already benefits from a predominantly green energy mix, this partnership will enhance our energy resilience, improve stability, and open avenues for clean energy exports to the region. By working with a global leader like Masdar, we are poised to bring innovative renewable technologies to <span class=\"xn-location\">Albania<\/span>, supporting our role as a clean energy leader in the Balkans and strengthening the country&#8217;s position within the broader European energy landscape.&#8221;<\/p>\n<p>The joint venture term sheet between Masdar and KESH is a crucial component of the broader strategic partnership between the UAE and <span class=\"xn-location\">Albania<\/span>. It will play a vital role in increasing <span class=\"xn-location\">Albania&#8217;s<\/span> renewable energy capacity, meeting local demand while supporting its energy export capabilities to neighboring countries, and contributing to the region&#8217;s energy security and sustainability goals.<\/p>\n<p>Masdar has significantly strengthened its presence in <span class=\"xn-location\">Southeast Europe<\/span> with its\u00a0proposed acquisition of TERNA ENERGY, the largest developer and investor in renewable energy projects in <span class=\"xn-location\">Greece<\/span> with a target capacity of 6GW by 2029. In addition, Masdar increased its investment in the Balkans with the recently announced financial close on the 154MW \u010cibuk 2 project in Serbia, adding to its existing 158MW \u010cibuk 1 wind farm and bringing its total capacity in the country to over 300MW.<\/p>\n<p><b><u>About Masdar<\/u><\/b><\/p>\n<p>Masdar (Abu Dhabi Future Energy Company)\u00a0is one of the world&#8217;s fastest-growing renewable energy companies. As a global clean energy pioneer, Masdar is advancing the development and deployment of solar, wind, geothermal, battery storage and green hydrogen technologies to accelerate the energy transition and help the world meet its net-zero ambitions. Established in 2006, Masdar has developed and invested in projects in over 40 countries with a combined capacity of over 31.5 gigawatts (GW), providing affordable clean energy access to those who need it most and helping to power a more sustainable future.<\/p>\n<p>Masdar is jointly owned by TAQA, ADNOC, and Mubadala, and is targeting a renewable energy portfolio capacity of 100GW by 2030 while aiming to be a leading producer of green hydrogen by the same year.<\/p>\n<p>For more information, please visit:\u00a0<a href=\"https:\/\/www.masdar.ae\/\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/www.masdar.ae<\/a>\u00a0and connect: facebook.com\/Masdar.ae and twitter.com\/Masdar<\/p>\n<p><b><u>About KESH<\/u><\/b><\/p>\n<p>Korporata Elektroenergjitike Shqiptare (KESH) is <span class=\"xn-location\">Albania&#8217;s<\/span> leading energy producer and a cornerstone of the country&#8217;s power sector. KESH plays a critical role in <span class=\"xn-location\">Albania&#8217;s<\/span> energy landscape, primarily through its extensive hydropower assets, which provide the majority of <span class=\"xn-location\">Albania&#8217;s<\/span> electricity from renewable sources. Operating some of the largest hydropower plants in the Balkans, KESH is a key contributor to <span class=\"xn-location\">Albania&#8217;s<\/span> green energy profile and energy security. KESH is committed to enhancing <span class=\"xn-location\">Albania&#8217;s<\/span> renewable energy capacity and ensuring energy resilience for future generations. By exploring new opportunities in solar, wind, and energy storage, KESH aims to diversify its energy portfolio and establish <span class=\"xn-location\">Albania<\/span> as a regional leader in sustainable energy solutions. Through strategic partnerships, KESH continues to support <span class=\"xn-location\">Albania&#8217;s<\/span> role in the broader European energy market, driving forward the country&#8217;s vision for a cleaner and more sustainable future.<\/p>\n<p><!-- \/wp:html --><\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[5,7],"tags":[],"class_list":["post-12371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cision-pr-newswire","category-cision-pr-newswire-en"],"_links":{"self":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/12371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12371"}],"version-history":[{"count":0,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/12371\/revisions"}],"wp:attachment":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}