Add us as your preferred source on Google to see more of our content in Search.
Add to Preferred SourcesAlbania’s state-owned hydropower operator KESH has become a pioneer hydropower operator with the adoption of its first climate risk management plan, a strategic approach to address the challenges posed by rising temperatures and increasing hydrological variability.
The adoption of the plan is part of the terms of a €218 million loan by the EBRD to Korporata Elektroenergjitike Shqiptare (KESH) to support the company’s restructuring and transformation to a modern electricity generator operating in an electricity market that is being gradually liberalised.
KESH operates a 1,350 MW hydropower cascade on the Drin River. It is facing challenges due to the impact of climate change and climate variability, which will require substantial investment in the near- and mid-term future.
In preparation for this, the climate risk management plan defines a list of structural and non-structural adaptation measures that will be implemented by KESH to mitigate climate-induced risks but also to seize opportunities arising from climate change.
With the adoption of the plan, KESH will become one of the first hydropower operators in Europe to address the risks of climate change and climate variability through a formalized and strategic approach.
Craig Davies, EBRD Head of Climate Resilience Investment, added: “We have entered an era where climate risk is real, with extreme events and changes in hydrological patterns increasingly expected. This project exemplifies how hydropower operators can take a first step at the corporate level to identify risks and opportunities to their operations.”
To date, the EBRD has invested almost €1.3 billion in 82 projects in various sectors of Albania’s economy. Strengthening economic resilience, promoting integration and addressing global and regional challenges are the EBRD’s key priorities.
Original source: EBRD
Published on 20 December 2018