Prishtina, 03.06.2016 – Minister of Economic Development of Kosovo, Blerand Stavileci, and Minister of Energy and Industry of Albania, Damian Gjiknuri, under the today’s meeting of the two governments in Prishtina, signed a memorandum of cooperation.

This Memorandum targets the cooperation between the two ministries, through the relevant agencies in each country, for the construction of new generation capacities and/or strengthening of current generation capacities through joint investments with a view to optimize energy resources.

Minister Stavileci said that after four projects in the field of energy, such as the Prishtina-Tirana energy highway, common energy market, energy and gas stock exchange, the Memorandum is a new point of exploring options for the construction of new energy capacities.

“This memorandum between MEI and MED aims to further deepen the concrete cooperation between key stakeholders in the energy sector for the construction of new generating capacities and strengthening of current generation capacities, with joint investments to address the security of supply and optimize energy resources of the two countries”, he added.

Meanwhile, the Minister of Energy and Industry of the Republic of Albania, Damian Gjiknuri, said that the latest project for new generation capacities is very important and is possible because of the lignite resources that Kosovo owns, and the interests of private partners expressed already to become part of this joint energy project.

“Albania and Kosovo are applying as a single country in the European Union for gas field projects. Projects have been accepted by the EU as priority projects and this will open the possibility not only to transform Albania into an important energy hub, but also to diversify Kosovo with gas, opening the possibility of creating the energy ring. This will give the region a greater energy security and will reduce dependence on traditional sources of supply,” said Gjiknuri.

With this Memorandum of Understanding, parties agree that the construction of new generating capacities and/or strengthening of current generating capacities through joint investments will be realized in the Republic of Kosovo.

According to the memorandum, specific reserves of each country with primary electricity generating sources, where the Republic of Albania relies on hydro and Republic of Kosovo on thermal sources, as well as linking of the two countries with the 400 kV interconnection line Tirana – Prishtina, will be used maximally with the creation and development of a common energy market.

Parties agree that the use of two complementary systems of generation sources in both countries and the construction of new power generation in the Republic of Kosovo will optimize the utilization of generating resources and enhance the security of energy supply of both countries.

Both governments agree that directly or through their implementing agencies they will cooperate to ensure financial funds for the realization of investment in new generation sources.

Parties express their willingness to take reasonable measures in order to secure the financial funds for the realization of the subject of this Memorandum from the following sources: domestic financial sources, depending on the ability and budget of each party; external financial sources, including funding from various international financial institutions or other initiatives that will be identified by the parties.

Initiatives to secure funding from various international financial institutions will be realized in cooperation with each other.