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26 I Cover story bne November 2018
• MVM Hungarowind solar plants: the subsidiary of the state-owned electricity firm MVM plans to build 110 small solar plants with a maximum capacity of 0.5MW each across the country, co-funded by the EU.
• MOL solar plants: the national oil company is in the process of building three solar plants at industrial sites across the country that will have a combined installed capacity of 18.3MW.
BALTICS
All three Baltic states have been trying to diversify away from traditional fossil fuels to renewables to improve their security.
Lithuania already produced 178MW (MW refers to power) from wind power in 2016, but it remains largely dependent on traditional fossil fuel sources of energy.
Latvia was an early investor in renewables, making much of its progress before 2004, and increasing only modestly in the following 12 years, while as of 2016 it still fell slightly short of its 2020 target. Hydropower production
leapt by 73.2% in 2016 in Latvia and wind power was up a healthy 17.1%. Over the last ten years the share of gas fuelled power has fallen by 5% to reach just 23.4% in 2017, with the share of renewables overtaking gas to make up 32.9%. Fuel wood makes up another third.
Estonia also managed to break its addiction to gas by exploiting local shale gas rocks. Already in 2007, more than 90% of its power was generated from oil shale. The Estonian energy company Eesti Energia owns the largest oil shale-fuelled power plants in the world, the Narva Power Plants.
POLAND
Poland made a good start on moving to renewables in the noughties but is lagging behind its EU targets now. Some 80% of its power is still generated by coal-fired power stations.
The government is planning 10GW of offshore wind power by 2030 the government said in September.
Polish power sector is facing an increased cost of electricity generation after the cost of permits to emit carbon dioxide skyrocketed 265% y/y to nearly €25 per tonne in September, which is pushing the country to accelerate its green energy programme.
ALBANIA
Albania is the greenest country in Europe, with 85% of
the electricity consumed in the country generated from renewable sources, according to Eurostat. Only Iceland and Norway beat Albania in the share of green energy they consume. Some of the main hydropower infrastructure
was built back in the communist era such as the Komani HPP on the Drin river, which provides some 65% of the country's electricity. The rest of the EU has a target of achieving 20% final energy consumption from renewable sources by 2020.
ARMENIA
• Masrik-1 solar plant: Fotowatio Renewable Ventures (FRV), part of Saudi-based Abdul Latif Jameel Energy, won a tender and will invest $40-50mn to build Armenia’s first solar power plant. When completed,
the 55MW plant will provide power to more than 21,400 homes. Construction work is due to start in early 2019 and the plant goes online in 2020.
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