Japan backs New Kosovo project financing

Minister of Economic Development Valdrin Luka hosted the Japanese delegation from the Japanese Bank for International Co-operation (JBIC) today, led by the director of the Energy Project Financing Division, Ryuta Suzuki, with whom he talked about the energy sector and the Kosova e Re thermal project.

Luka argued that the Kosovo government continues to face energy problems due to the age of current energy capacities such as Kosovo A and Kosova B, as well as stressed the importance that the New Kosovo project has for economic development.

“Contour Global plans to place the turquore of the new thermal power plant during the first half of this year and complete by 2023, where, at the beginning of the operation of the Kosova e Re thermal power plant, Kosovo A is shut down and the rehabilitation of the Kosovo B”, he said.

While Ryuta Suzuki said Kosovo has strategic importance for their country and that Japan is interested in supporting funding the Kosova e Re project, because this project has great importance for Kosovo's economic development.

Suzuki stressed that even though the base production of the Kosova e Re thermal power plant will be of coal, it will help implement efficient energy projects, such as expanding the co-generation and increased capacity project aimed at improving the central heating system for residents of Pristina and surrounding municipalities, but also protecting the environment, transmits KsP.

The Japanese delegation has also been informed about renewable energy activities and investments, where Kosovo has pledged to have 25% of the energy from alternative energy, as well as about the bio-enhancing system project in the Gjakova municipality, and the possibility of developing similar projects in all other municipalities.