The Albanian British Chamber of Commerce and Industry and the Embassy of the Republic of Albania in UK, supported by the law firm Shakespeare Martineau, held the Albanian Green Energy Forum in London, on the 27th of April 2017.
The purpose of this meeting was to bring together senior -level representatives from governments, regulators, power developers, investors, financial institutions, consultants and law firms to form partnerships and identify opportunities. While answered and debated many questions that investors had on understanding the potential that the new legislation on renewable energy brings for Albania and the region. International companies such as: Green Nation Solar Energy, Cantor Fitzgerald, Celandine Capital, Element Power Limited and some 20 other companies thanked the speakers for the detailed picture they created on the sector and the region.
Zenel Hoxha, President of ABCCI, welcomed the participants and offered the service of the Chamber in identifying opportunities, creating the roadmap for achieving positive development from which its members, the economy and many countries will benefit, as Albania has many investment opportunities to offer. Following Mr. Hoxha’s speech, was the welcome Speech from The Rt. Hon. Lord Watson of Richmond and that of The Ambassador of the Republic of Albania in UK, Mr. Qirjako Qirko. Whom both also gave a brief description of the endless possibilities and opportunities Albania has to offer on a macro level and from the point of view of an international business leader and the latter from the Albanian Government’s point of view.
The forum was honored to hear from the Albanian Deputy Minister of Energy and Industry Mr. Gezim Musabelliu. He represented the Albanian government and gave detailed information about the new legislation and how these different companies would profit from it. He invited the participants to visit Albania and meet foreign and local companies already investing in alternative forms of energy production.
There was a brief analysis of the Albanian energy market, given by Deputy Editor of the European Daily Electricity Markets (ICIS), Irina Peltegova. She explained the potential of Albania in the renewable sector, giving actuarial statistics on the improvement of it. Leaving us with questions about day-ahead exchange launch, integration with Kosovo etc. The participant was also made aware of the any legal obstacles that they might face on the way and how to take the appropriate legal advice on overcoming them. Neil Budd, partner in the law firm Shakespeare Martineau, discussed the legal and commercial issues in developing a renewable energy project in an emerging market. The topics included: key project risks, what do funders look for, technology specific issues etc.
Albanian investors and projects offered a brief to the would-be investors with their proposals and experience on the ground. Mr. Fatos Ahmataj from Alflex Security presented ‘The Albanian Solar Project’, which is aiming to build a solar farm of 350 MWp. While Eurolines Shp.k described their progress and success on building four hydropower plants in Albania. Showing potential for future investments like ‘Bushtrica HPP’ and also ‘Mamurras-Solar Power’.
The last but not the least by all means, presented by Mr. Mehul Bhimjiyani from Ager Capital Partners Ltd, gave an insight on the world of financing and what normally works and how to address the needs for financing for projects on green energy and for the Balkan region.
The Forum moderator Mr John Grogan, Honorary President of ABCCI, thanked the participants for their contributions and suggested that a Trade Mission to Albanian in October could see more of the opportunities come to light and invited participants. While Mr. Grogan on behalf of the Chamber offered to bring the suggestions to the attention of the Albanian Government on: the incentives for the building of bigger solar plants, the exchange launch, the Government flexibility on the support for finances, infrastructure needs and specialized working force.
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