Mytilineos lands deal for Albanian substations
Athens-listed Μytilineos announced Thursday that its Sustainable Engineering Solutions Business Unit (BU SES) has entered into a contract with Operatori i Sistemit te Transmetimit Sh. A. (OST) for the development and execution of a 400 kilovolt network in the Republic of Albania.
In a public statement, the Mytilineos Group said that this is a strategic energy project for Albania that will help the country to participate effectively in European energy markets in the future. By developing this 400 kV network in the southern part of Albania, the project will contribute to the energy transmission system by improving interconnections with the electricity grids of neighboring countries and will allow trading conditions, the achievement of a safe and reliable energy grid system, says the company statement.
Mytilineos said the project includes the construction of the new Elbasan 3 substation and the strengthening and extension of the Fier substation. The new Elbasan 3 substation will extend the existing 400/220/30 kV Elbasan 2 substation with a new switching substation at the 400 kV level to connect the lines to Tirana 2, Zemblak and Fier as well as to the substations in North Macedonia, while the modification will take place at the existing 400/220/30 kV Elbasan 2 substation. At the Fier substation, the existing 220 kV switching substation will be extended with new bays and a new 400/220/35 kV transformer.
This will be the first energy project for Mytilineos in Albania, heralding a new era for the Greek group in the wider Balkan region, through SES BU. The group said in its statement that it is investing strategically in the global goals of energy transition by applying its globally recognized expertise in the dynamic development of sustainable development projects.
The project in Albania is expected to be completed within 24 months, the company said, in addition to 12 months for the warranty period, and the contract value for Mytilineos stands at € 21,173,500.
The Greek company added that the project would be co-financed by the Federal Republic of Germany via KfW and by the European Union as part of investment in the Western Balkans.