Austrian energy group and hydro project operator EVN AG has agreed to sell its 50% share in Devoll Hydropower ShA to Norwegian utility Statkraft A.S.
EVN AG's sale of Devoll Hydropower ShA (DHP) -- developer of the 280-MW Devoll hydroelectric complex along Albania's Devoll River -- must still be approved by Albania's Ministry of Economy, Trade and Energy, which awarded a concession agreement to the parties for development of the project in 2008.
The US$1.24 billion project will consist of three separate hydropower plants to be located at Banja, Kokel and Moglice in southern Albania.
HydroWorld.com reported in October 2012 that DHP had named a joint venture comprised of Mott MacDonald and Boyne et Bellier as owner's engineer for the development of the Devoll project.
