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The installation of batteries that will serve as energy reserves, the greater involvement of women in the energy sector and the promotion of private sector financing are the main points of the Compact Agreement reached between the Government of Kosovo and the Millennium Challenge Office (MCC). ).
The MCC board of directors at the last meeting approved the 5-year program of 202 million dollars, writes Telegrafi.
"The Board's decision represents the next phase in the United States' partnership with the Government of Kosovo and the continuation of our joint efforts to build a better future for nearly 2 million Kosovars," said MCC Chief Executive Officer Alice Albright.
According to her, the program is expected to integrate renewable energy by employing young women in this sector.
The MCC Board of Directors held its quarterly meeting yesterday and voted unanimously to approve a $202 million compact with the Government of the Republic of Kosovo — a 5-year grant program that promotes sustainable, inclusive economic growth.
https://t.co/RUadhwt38M pic.twitter.com/3bkOWo84Y7
— Millennium Challenge (@MCCgov) July 1, 2022
"The project builds on MCC's ongoing threshold program in Kosovo, maintaining focus on an ambitious and forward-looking policy and institutional reform agenda, while investing in innovative energy infrastructure, including energy storage to increase energy efficiency and security, to facilitate the transition and integration of renewable energy, ensuring the path to employment of young people and women in the energy sector", she added further.
For the Prime Minister of Kosovo, Albin Kurti, this project will help to establish the foundations of the energy transition.
Grateful for @MCCgov Board decision to approve the $236.7M Compact agreement.
This is the largest energy investment in 🇽🇰 to date.
It will help lay the foundation for our just energy transition.
Special thanks to both our teams for the great work.
Friends.
Partners.
Allies.
🇽🇰🇺🇸
— Albin Kurti (@albinkurti) July 1, 2022
"It will help lay the foundations for our energy transition.
Special thanks to both our teams for the excellent work, friends, partners and allies", Kurti wrote on Twitter.
Meanwhile, the Minister of Economy, Artane Rizvanolli has emphasized that this is the largest energy investment in the country.
“Fantastic news from MCC today.
The board of directors just approved the $236.7 million Compact - the largest investment in Kosovo's energy sector, a cornerstone in our energy transition," Rizvanolli announced on Twitter.
Great news from 🇺🇸 today!
@MCCgov's Board of Directors just approved the 🇽🇰 Compact worth $236.7 Million – the largest investment on 🇽🇰's ⚡ sector, a cornerstone in our energy transition!
🍀
Grateful to 🇺🇸 & 🇽🇰 teams.
Proud of the 🇽🇰 team.
Honored to have led the negotiations.
— Artane Rizvanolli (@Artane_R) July 1, 2022
Otherwise, this program will be the largest energy project in Kosovo, which foresees the construction of energy storage systems.
Of this funding, 200 million dollars will come in the form of a grant from the USA through the MCC, about 35 million dollars will be a contribution from the Government of Kosovo, while 2 million will be funds from the American Catalyst Institution for Development (ACFD) ).
The program will include three energy storage and arbitrage projects (batteries with a capacity of 170 MW, providing 340 MWh of storage), workforce development and the inclusion of women in the energy sector, and the ACFD project.
/Telegraph/