Prishtina, 06.10.2023 – The Ministry of Economy has been informed of the decision of the Arbitration Tribunal, which obliges the Republic of Kosovo to pay a predefined amount to Contour Global Company as compensation for expenses related to the “Kosova e Re” Thermal Power Plant project.

The Tribunal noted that the project and the contracts between the parties have never been in favor of Kosovo. The amount charged to our state and the related parties was predefined in the contract signed in 2017.

The inequality of the contract is demonstrated by the fact that the compensation for Contour Global Company was set at approximately 20 million euros, whereas for the Republic of Kosovo at 8 million euros.

The Government has made maximum efforts to protect its interests before the Tribunal, especially in the circumstances of the transition and the irresponsibility of the government appointed unconstitutionally in 2020.

The decision of the Company to withdraw from the project has been fortunate for the country, considering the high price of energy according to the project contract and the aim to generate clean and affordable energy for citizens and industry. Simply put, the implementation of the project would have cost Kosovo much more than the unfavorable Arbitration verdict.

The Republic of Kosovo will now consider the option of using other legal remedies at its disposal, including filing a lawsuit to annul the Arbitration decision in the competent Court in London.