The development objectives of Energy Community of South East Europe Adaptable Program Loan (APL) Program - Fifth APL for Albania Dam Safety Project are to: a) contribute to safeguarding the major hydroelectric plants on the Drin and Mat river cascades in Albania; and b) improve their operational efficiency and enhance the stability of power supply for the regional electricity market. The additional loan will help finance the costs associated with an expected cost overrun for the investments planned under the original project.
The additional loan will support the completion of two major sub-components of the Original project: (i) rehabilitation of the spillways in the three dams of the Drin River Cascade (Fierza, Komani and Vau Deja hydro power plants (HPPs); and (ii) rehabilitation of the Komani HPP through refurbishment of electro-mechanical equipment and replacement of existing control, protection and monitoring systems. The restructuring includes: (1) the cancelation of a subcomponent under the original credit (load frequency control); (2) extension of the due dates for three covenants, dam safety institutional and emergency preparedness plans as well as effectiveness of European Bank for Reconstruction and Development (EBRD) co-financing agreement; and (3) extension of the closing date of the original project to December 30, 2016. The expected outcomes from the activities supported by the proposed additional financing will be (i) the safeguarding of the major hydroelectric plants in Albania; and (ii) improved operational efficiency and stability of power supply of the regional electricity market.
World Bank. Document Date: 2011/11/17.Document Type: Project Paper.Report Number:64994.Volume No: 1 of 1