Page 144 - SE Outlook Regions 2024

have agreed to develop a €1bn large-scale hybrid wind-and-solar project in Albania. The project has the potential to elevate Albania to the status of a net exporter of electricity, CWP said.
At the same time, thanks to its location on the Trans Adriatic Pipeline (TAP) route, Albania is seeking to develop its gas sector, as part of efforts to boost energy security.
Albania is also a producer of oil. The country is on the verge of a potentially transformative investment by multinational oil major Shell at a promising site in the Shpirag area. While the final investment decision (FID) has yet to be made, discussions are already underway about an investment of up to €7bn, as announced by Prime Minister Edi Rama in August 2023.
In 2021, Albania produced just over 712,000 tonnes of oil – a small amount compared to the major EU oil producers such as Italy, Denmark and Romania, Eurostat data showed.
The main company currently active in producing oil in Albania is Bankers Petroleum, which was taken over by China’s Geo-Jade Petroleum Corporation in a CAD575mn (€405mn) deal in 2016. Bankers Petroleum has been operating Albania's Patos-Marinza oilfield since 2004 and has a 100% interest in both the Kucova oilfield and Exploration Block F in the Balkan country.
7.2 Energy & Power - Bosnia & Herzegovina
More than two-thirds of Bosnia’s electricity is generated from thermal power plants. However, as they are old and not modernised, the country is trying hard to add more renewable energy sources to its facilities.
In 2023, the revenue of Bosnia’s hydropower producer Hidroelektrane na Trebisnjici (HET) should reach BAM90mn (€45mn), pushed up by rainy autumn months. Thanks to the rainfall, HEP has water reserves above the planned level, which should guarantee the security of electricity generation.
Despite that positive outcome, Bosnia’s Federation has declared a state of threatened electricity security for 2024 amid surging electricity prices. Declaring this status would allow the Federation’s government to set the prices of electricity and control the energy supply. The government can also adopt other measures related to the security of electricity supply.
According to analysis by state-owned Elektroprivreda BiH (EPBiH), the average market price of electricity in 2024 will be €141.53 per MWh, which would mean an 87% hike of prices. EPBiH has two coal mines, in
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