The European Bank for Reconstruction and Development (EBRD) is currently evaluating a proposed 53 million euros loan package for two Albanian companies involved in the development of a major solar and battery storage project in Albania. The initiative represents one of the country’s largest renewable energy investments in recent years.
The overall investment, estimated at around 105 million euros, combines utility-scale solar power generation with advanced battery storage technology. The project is expected to become one of the first integrated solar-plus-storage developments of this scale in the wider region operating under market-based conditions.
The financing would be provided to two Albanian special purpose companies jointly controlled by Blessed Investment and Matrix Konstruksion. The EBRD is expected to make its final decision regarding the transaction by mid-June 2026.
The project includes a total of 160 MW of solar capacity together with a 60 MW battery energy storage system. While part of the development is already operational, additional phases remain under construction or are still in the pre-development stage.
The solar complex consists of the Blue Solar 2 and Blue Solar 3 projects located in the municipality of Fier. Blue Solar 2 Phase 1, with an installed capacity of 64 MW, has already entered commercial operation, while the 55 MW second phase is currently under construction. Meanwhile, the 43 MW Blue Solar 3 project remains in the preparatory phase.
The energy storage segment includes a 30 MW battery system with a storage capacity of 80.25 MWh, which will be installed within the existing Blue Solar 2 substation area. The development plan also includes the construction of a 220 kV transmission line that will connect the facilities to Albania’s national electricity network.
According to project documentation, the investment could additionally benefit from risk protection support under the European Fund for Sustainable Development Plus Hi-Bar guarantee mechanism, which is intended to encourage investment in renewable energy and strategic infrastructure projects across the region.
