March 5 (SeeNews) - Norwegian renewable energy company Statkraft said it recorded a pre-tax profit of 705 million Norwegian kroner ($67 million/61.4 million euro) from its operations in Albania in 2023, a decline from a profit of 1.8 billion Norwegian kroner in 2022.
Stakraft’s revenue from electricity production and sales in its two power plants in Albania amounted to 1 billion Norwegian kroner, down from 1.6 billion Norwegian kroner in 2022, Statkraft said in a consolidated yearly statement on Monday.
Statkraft operates two hydropower plants located along the Devoll cascade in south-eastern Albania, Banja HPP, with an installed capacity of 72 MW, and Moglice HPP, with an installed capacity of 197 MW. Total investment cost of the Devoll hydropower project was estimated at 590 million euro.
Last year, Statkraft completed construction of a 2 MW floating photovoltaic (PV) plant at the Banja reservoir. The project aims to serve as a learning base for the floating PV technology.
In October, Statkraft said it was considering the construction of a pumped storage hydropower plant as an addition to its Moglica hydropower plant. Pumped storage hydropower plants store and generate electricity by moving water between upper and lower reservoirs.
Statkraft primarily focuses its economic activities in the Nordics and Europe, with additional operations in Brazil, Chile, Peru, India, Nepal, and Turkey, it said in the report.
(1 euro = 11.5 Norwegian kroner)