Fortis Energy, a Turkey-based renewable energy developer, has secured approval from Albania’s Council of Ministers to construct a 62 MW solar power plant in the southeastern municipality of Kolonja. The project, located in the village of Taç Lartë, must be completed within 36 months from the decision’s enactment, though a construction permit is still pending. The facility will operate for 49 years, including the construction period, without relying on state subsidies or concessions.

The Albanian government has mandated Fortis Energy to provide a financial guarantee equivalent to 5% of the total investment value before signing the contract with the Ministry of Infrastructure and Energy. Additionally, the company is required to submit quarterly progress reports to the ministry and the National Agency of Natural Resources, both of which retain oversight rights throughout the project’s lifecycle. A royalty payment of 2% of the annual output or its monetary equivalent will also be levied.

Fortis Energy is actively expanding its renewable energy footprint in Southeast Europe, with a pipeline totaling 2 GW. Half of this capacity is earmarked for solar and wind projects in Serbia, including the 110 MW Erdevik solar park, for which the company recently secured a grid connection agreement. In North Macedonia, Fortis Energy commissioned a 79.9 MW solar plant in Oslomej last year, with plans to integrate battery energy storage systems (BESS) at both sites.

The Albanian project underscores the country’s growing appeal as a renewable energy investment destination, driven by its favorable regulatory framework and abundant solar resources. Fortis Energy’s commitment to meeting stringent reporting and financial requirements reflects the increasing scrutiny on transparency and accountability in the region’s energy sector.