"Kosova e Re" Power Plant Construction in 2018

PRISTINA - Kosovo's government said on Wednesday it has reached an agreement with US-based ContourGlobal to start the construction of 500 MW "Kosova e Re" coal-fired power plant in 2018. The total investment cost of the project for the construction of the coal-fired power plant is estimated at one billion euro ($1.17 billion), as a commercial agreement between the government and ContourGlobal representatives will be signed in the coming days, the prime minister's office said in a press release. The new power plant will be operational by 2023, the statement added. In December 2015, ContourGlobal signed a memorandum of understanding with the government for the financing of Kosovo's largest energy project, which will replace the country's 40-year-old Kosovo A plant and is seen as the only solution to the country's chronic air pollution and unreliable power supplies.