The utility announced that its binding bid, submitted last November, has been selected as the best offer and it would proceed in exclusive negotiations with the Government of Albania over the next few months for the concession contract.

Project development took major steps forward last year following the feasibility studies undertaken by EVN for the three plants on the Devol river. The Albanian authorities are looking to have 1,000GWh annually from the plants.

The hydropower scheme follows on from the pact on energy development signed a year ago by the Government of Albania, the federal province of Lower Austria, and EVN.