Roundtable on New Renewable Energy Draft Law

Roundtable on New Renewable Energy Draft Law

September 27, 2016
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Foreign Investors Association of Albania (FIAA), jointly with the Albanian Association of Renewable Energy (AREA), the Italian Chamber of Commerce and Industry and the Chamber of Commerce and Industry of France-Albanie, organized in late September a roundtable dedicated to the new normative framework of renewable energy. Present were the Ambassadors of Italy and France, representatives of the Austrian Embassy, the Ministry of Energy and Industry, ERE-s, IFC, EBRD, banks, state institutions, local and foreign investors in the energy sector in Albania.

The new Renewable Energy Law is considered as a unique opportunity to provide a satisfactory answer to the present concerns of both Albanian and Foreign investors in this sector. Under the condition of guaranteeing a proper regulatory frame to both existing and new investors, FIAA is fully convinced that the new renewable energy law represents a major opportunity to strengthen the energy sector and provide the much needed growth to the Albanian economy.

During the discussion, the energy producers expressed their readiness and willingness to participate to the drafting process of the new law with the aim to create an attractive market for new investments and to ensure a favorable environment for the successful operation of existing investments.

On the other side, the representative of the Ministry of Energy stated that the Ministry is ready to dialogue and negotiate with all investors in the frame of amending properly the law on renewable energy sources. In particular, while welcoming all developments able to provide opportunities for new investments in the sector, Foreign and Albanian investors consider of utmost importance the guarantee of the rights previously acquired though concession contracts, given over 350 million euro have been already invested. The respect of the rights granted to the projects already realized through the concessions is an absolute pre-condition for the attraction of new foreign capital and investments in Albania, and can be achieved through adequately supportive price levels for renewable energy together with the respect of previously existing technical conditions.

Further exchanges and discussions are expected to be made with the aim to provide Albania with a regulatory framework which is fairly rewarding those who take economical risks and make investment to develop capacities of the energy sector.