Prishtina, 23.03.2018 – The Project Steering Committee (PSC) of the Kosova e Re Power Plant, chaired by Minister of Economic Development, Valdrin Lluka, met  iun the first meeting after the signing of the Commercial Project Contracts, where they discussed issues related to recent developments in this project.

The Project Steering Committee, in this meeting, unanimously approved the procedure for the formalization of Commercial Project Contracts. Also, in the meeting, the PSC also approved the request of the investor ContourGlobal to accept the change in the legal organization of the company, already listed on the London Stock Exchange. This advancement of the investment company of “Kosova e Re” TPP further facilitates the progress of the remaining procedures until the finalization of the Project.

A number of other technical decisions were taken in the meeting, regarding the progress ahead and in line with the timeline of the Project.

Also, PSC of TPP “Kosova e Re” was informed by the Transaction Advisor and PIU of TPP ‘Kosova e Re’, on the current status and course of the project thus far.

It must be recalled that the Kosova e Re Power Plant will become a catalyst of economic development, providing sustainable electricity supply. Construction of this power plant is underway to give energy independence to Kosovo. In addition to the security of power supply, the mission of the new unit is to replace the old generation units of TPP “Kosovo A”.

The Kosova e Re Power Plant will be built in compliance with the environmental standards of European Union Directives. With new super-critical technology, the unit will have a net efficiency greater than 40.0%. This means less lignite consumption and, consequently, lower emissions. Other measures to be taken during this process to control pollution include the decommissioning of TPP “Kosovo A” and rehabilitation of TPP “Kosovo B”.