The Emirati giant Masdar (Abu Dhabi Future Energy Company PJSC) and Korporata Elektroenergjitike Shqiptare (KESH), a major energy player in Albania, have formalized a strategic agreement to accelerate the country’s energy transition. Signed during COP29 in Baku, Azerbaijan, this agreement marks a turning point in Albania’s energy strategy and strengthens its position in the European energy market.
This partnership aims to develop large-scale solar, wind, and hybrid projects, potentially integrating battery storage solutions. The energy produced will not only meet domestic market needs but also be exported to neighboring countries via cross-border interconnections.
A strategic project for Albania
Albania, already largely dependent on hydropower, seeks to diversify its energy sources to enhance resilience and mitigate risks associated with climate variability. According to Erald Elezi, CEO of KESH, this partnership will enable the country to capitalize on its renewable energy potential while adopting an energy strategy aligned with European sustainability goals.
For Masdar, this agreement represents a strategic opportunity to expand its presence in the Balkans, a region with growing demand for clean and reliable energy solutions. Masdar CEO Mohamed Jameel Al Ramahi stated that this collaboration reflects Masdar’s ambition to become a global leader in renewable energy, targeting an installed capacity of 100 GW by 2030.
Economic and environmental implications
Beyond its energy impact, this partnership promises significant economic benefits for Albania. The projects will create jobs, stimulate local investments, and improve the country’s energy security. By strengthening its role as a clean energy provider, Albania aspires to become a strategic hub for exporting renewable energy in Europe.
The agreement also has an international scope. By partnering with Masdar, a company recognized for its expertise in green energy technologies and financing, Albania ensures access to resources and innovations that will accelerate its energy transition.
An energy strategy for the future
This agreement is part of a broader strategic vision for both partners. Masdar continues to strengthen its presence in Southeast Europe with recent projects in Serbia and Greece, while KESH modernizes its infrastructure and diversifies its capabilities to meet future challenges.
Together, the two companies are building a strategic collaboration model designed to address local and regional energy challenges while contributing to global climate objectives.
