SEE region: DEPA Commercial to buy 35% stake in Albanian gas power plant

Published on 20. November 2023., SEE Energy News

Greek gas company DEPA Commercial plans to acquire a 35 percent stake in Fier Thermoelectric SA, a company co-founded in September 2022 by the GEK TERNA group and Albania’s GENER2, for the development of a 174-MW gas-fueled power station in Roskovec, south-central Albania, the first of its kind in the neighboring country.

DEPA Commercial’s board has just approved the company’s entry into Fier Thermoelectric SA, a significant investment diversifying its portfolio.

As part of the agreement, DEPA Commercial has signed a long-term agreement for gas supply to the Roskovec power station.

This new power plant promises to enable Albania to significantly reduce electricity imports and manage the country’s growing energy demand with greater efficiency and flexibility.

DEPA Commercial is constantly expanding its activities as a modern, vertically integrated company, particularly in the power generation sector. Following our investments in photovoltaic projects with a total capacity of 815 MW, and our participation in an 840-MW power plant in Alexandroupoli, we are entering a new market, that of Albania, by participating in the country’s first thermal power plant. DEPA Commercial is emerging as one of the most dynamically growing energy companies in southeast Europe, steadily participating in and undertaking initiatives that contribute to the energy stability of the region, according to Konstantinos Xifaras, chief executive at DEPA Commercial.