The European Bank for Reconstruction and Development (EBRD) is providing a €70 million loan to Albanian energy company Operatori I Shperndarjes se Energjise Elektrike (OSHEE) to address liquidity gaps caused by the Covid-19 pandemic. The financing may also fund the construction of a modern, underground substation in central Tirana.
OSHEE is the largest state-owned enterprise in the sector in Albania, with more than 6,000 employees. Its distribution company manages and operates the country’s power distribution network and related infrastructure, while its retail supplier is responsible for electricity supply to regulated customers.
The EBRD loan is complemented by a significant technical assistance package to help OSHEE improve its health and safety protocols, strengthen its anti-corruption governance and develop an inclusive training programme for young professionals. The package will also include a smart grid development roadmap study to explore the digitalisation of the distribution network.