Norwegian utility Statkraft A.S. has announced its intent to begin construction on the Devoll hydroelectric complex in Albania, HydroWorld.com has learned.
The Devoll project will eventually include three separate hydropower plants, though Statkraft's announcement only included two. The pair -- called Banja (also spelled "Banje") and Moglice -- will have a combined output capacity of about 240 MW and will cost $714 million. Both are expected to be in operation by 2018.
Devoll Hydropower Sh.A. (DHP), which is developing the project, used to be a 50/50 joint venture between Statkraft and Austrian energy company EVN AG. EVN sold its share to Statkraft in March, giving Statkraft total control of DHP.