ContourGlobal gets support to build new coal power plant in Kosovo

Kosovo Prime Minister Ramush Haradinaj said Tuesday the U.S. power company ContourGlobal will proceed with plans to build a 500 megawatt (MW) coal-fired plant in Kosovo. In October 2018 the World Bank confirmed that they will not support a coal power plant in Kosovo because it would use coal rather than renewable fuels.

Haradinaj said the 1.3-billion-euro project, considered as the most important investment since the end of the war in Kosovo twenty years ago, will finally be implemented. “Today, a representative of ContourGlobal informed us that they have provided loans. In February will be selected financial and technical project to proceed in March with the work in the field and constructing of the power plant ‘New Kosova’ will start within months,” Haradinaj said. The Prime Minister said this investment will bring a boom in economic growth expected to go as high as 7 per cent annually.

After the World Bank withdrew in October a loan guarantee offer for the New Kosova coal-fired power plant, the Prime Minister turned to US to discuss backing for project. Haradinaj travelled to the US jointly with the economic development minister Valdrin Lluka where they met with top officials from the US Overseas Private Investment Corporation (Opic). On Tuesday Haradinaj has not elaborated who offered the loan guarantee for the U.S. consortium ContourGlobal. Kosovo has more than 14 billion tonnes of proven lignite reserves, the fifth largest in the world.