The Albanian government said it has approved the construction of a 100 MW PV plant near the southwestern town of Fier by local renewable energy producer Sunny Side Energy.

The facility is expected to be operational within 36 months, with a 49-year operating term, the government said on Wednesday.

The project is privately financed and does not benefit from any government incentives, nor is it part of any concession contract, it added.

Sunny Side Energy was established in 2023 by local construction-to-oil conglomerate Kastrati Group, according to the Albanian register of business.

In recent years, the government has been pushing forward a strategy to increase the capacity of energy production in the country by achieving the objective of the net exporter of energy by 2030.