The Government of Albania has signed the concession agreement with Voltalia for the development of the 140 MW solar photovoltaic park located in Karavasta coastal area in the City of Fier. 

The 30-year deal involves the construction, maintenance, and operation of the solar project. Once operational, Voltalia will sell half of the generated energy to Albania's state energy distribution company for EUR 24.89 (US$ 27.62) per megawatt-hour through a 15-year power sale contract. 

The project is expected to generate up to EUR120 million (US$150 million) of investment.