Tirana Bank is once again at the forefront of sustainable financing, leading a €20 million syndicated loan for the construction of a new photovoltaic power plant in Fier.
The project is expected to boost Albania’s renewable energy capacity and contribute to a greener future for the country.
Aleksander Zoga, Project Finance Manager at Tirana Bank, shared more about the significance of this project, the bank’s expertise in syndicated loans, and its growing commitment to Green Finance.
What does this syndicated loan mean for Tirana Bank?
Aleksander Zoga:
“This agreement is proof of Tirana Bank’s leadership in Albania’s financial market. By being the lead bank and holding the largest share of the financing, we clearly demonstrate our role in supporting projects of such importance. It shows our ability to coordinate large-scale initiatives with the goal of driving the country’s economic development.
For us, it is not just a financial transaction, but a true collaboration with Albanian enterprise to grow the country’s energy production capacity. This transaction, along with many others we have financed or are currently evaluating, represents an important step toward a future of sustainable development.”
What is Tirana Bank’s experience with syndicated loans?
Aleksander Zoga:
“Tirana Bank has a long and consolidated experience in financing syndicated loans. We have participated in major syndicated financing, not only in recent years, but also in earlier projects. For example, we co-financed a major energy company in the hydropower sector, the syndicated loan for the Thumanë–Kashar highway, the Orikum–Llogara project, as well as other joint financings for various companies.
These engagements clearly show that we have the expertise and the resources required to successfully execute complex financings in projects of strategic importance for Albania’s economic growth.”
What is Tirana Bank’s commitment to Green Finance?
Aleksander Zoga:
“Green Finance is one of our top priorities. We see the financing of renewable energy as a concrete way to contribute to Albania’s green transition.
Over the last four years, Tirana Bank has been very active in Green Financing. First, we supported the needs of our clients for rooftop solar panel installations at their business premises, significantly reducing their electricity bills.
At the same time, Tirana Bank has been very active in financing large-scale photovoltaic parks, aimed at selling electricity through the Albanian Power Exchange (ALPEX).
The BLUE 2 project in Fier is part of this ongoing commitment. It follows other initiatives we have taken, such as financing the construction of a photovoltaic park in Lushnje last year. More recently, in August, we financed another solar park which will be completed in the coming months. At present, we are reviewing several other renewable projects, to be financed either directly by Tirana Bank or in cooperation with other banks.
Based on this track record, we strongly believe that financing green energy companies is essential for diversifying energy sources and reducing carbon emissions. These are standards applied by all European Union countries, which Albania aspires to join.”
Through this new financing, Tirana Bank once again shows its leadership in building a greener and more sustainable Albania. This development reflects the Group’s wider mission of supporting impactful investments that shape the future of the economy, the environment, and society.
