The European Bank for Reconstruction and Development (EBRD) has been helping Albania build a greener economy since 1992. It has invested in projects focused on renewable energy, energy efficiency, and sustainable businesses.
Expanding Renewable Energy
Albania mostly relies on hydropower for electricity, but this can be risky due to changing water levels. To help, the EBRD is:
- Funding solar and wind projects to reduce dependence on hydropower.
- Supporting solar energy auctions that have lowered renewable energy costs.
- Launching Albania’s first wind energy project to attract more investment.
- Investing in floating solar panels, including a 12.9MW farm at Vau i Dejës reservoir.
Improving Energy Efficiency
The EBRD is also helping businesses and households use energy more efficiently by:
- Offering loans and grants through the Green Economy Financing Facility (GEFF) for home energy upgrades. Nearly 300 projects have been funded since 2019.
- Helping update Albania’s energy laws to match EU standards.
- Funding better waste and water management in cities.
Greener Cities & Infrastructure
Tirana joined the EBRD Green Cities Program in 2017 to improve urban sustainability. Key projects include:
- Expanding cycling paths and promoting electric vehicles to cut air pollution.
- Upgrading water and waste management systems.
- Creating a Green Finance Roadmap to fund more eco-friendly projects.
Supporting Green Businesses
The EBRD also helps small and medium-sized businesses (SMEs) grow sustainably. So far, over 6,000 agribusinesses and tourism companies have received funding. Other efforts include:
- The Guarantee for Growth (G4G) program, which has provided over €165 million in business loans.
- Investments in sustainable agriculture and tourism to protect Albania’s natural environment.
Looking Ahead
Between 2017 and 2022, the EBRD invested over €416 million in Albania’s green economy, and more projects are underway. By expanding renewable energy, improving city infrastructure, and supporting eco-friendly businesses, Albania is making steady progress toward a more sustainable future.
