TIRANA (Albania), December 20 (SeeNews) – Albania's state-owned power corporation KESH has adopted its first climate risk management plan as part of the terms of a 218 million euro ($248.4 million) loan offered by the European Bank for Reconstruction and Development, the bank said on Thursday.
“With the adoption of the plan, KESH will become one of the first hydropower operators in Europe to address the risks of climate change and climate variability through a formalized and strategic approach,” the EBRD said in a press release.
In April, the EBRD told SeeNews it has declared effective a 218 million euro loan intended to support the company’s restructuring and transformation to a modern electricity generator operating in an electricity market that is being gradually liberalised.
“The plan was adopted by the KESH supervisory council in Tirana today,” the EBRD said.
The plan was developed under a capacity-building programme funded by the Austrian DRIVE fund and implemented by engineering and project management firm Pöyry together with the Swiss hydropower operator KWO.
“It benefited from a guidance document currently under development on climate resilience for the hydropower sector. Jointly developed with the International Hydropower Association (IHA), the World Bank and EBRD, the guidelines will be presented at the World Hydropower Conference 2019 in Paris,” the EBRD said.
“Building know-how in the field of climate resilient hydropower operation is an essential element of our strategy to sustain and further develop our position as a leading electricity generator in the Western Balkan region,” Agron Hetoja, chief executive officer of KESH, said.