A special-purpose vehicle of investment firm Gjonaj Group Holdings has acquired GreeNNat Solar Park Ballsh, which develops a 100 MW solar power plant in Ballsh, southern Albania, for 1.95 million euros, GreeNNat said in a statement.
Infotelecom-Albsolar 3, established in April by Gjonaj and renewables developer Ener Trade, acquired GreeNNat from local construction-to-energy group Shijaku.
In January, the Albanian government said it approved GreeNNat’s request to develop a 100 MW photovoltaic plant at the site of an abandoned oil refinery in Ballsh, with construction expected to be concluded within 60 months.
In 2021, Shijaku acquired the Ballsh refinery for 8 million euros from a commercial bank in Albania, which had taken possession of it as collateral due to an unpaid loan by the previous operating entity, Allum Enterprises, according to local media reports.
