Independent Power and Renewable Electricity Producers
Company Overview of KESH sh.a.
KESH sh.a. engages in the production, transmission, and distribution of electricity in Albania. The company operates hydropower plants. Its current projects include a hydro power dam safety project and a thermal power plant. KESH sh.a. was founded in 1957 and is based in Tirana, Albania.
Blloku Vasil Shanto 259/1
Founded in 1957
Key Executives for KESH sh.a.
Chief of Procurement Entity and General Director
Compensation as of Fiscal Year 2016.
KESH sh.a. Key Developments
The European Bank for Reconstruction and Development Provides EUR 218 Million Loan to Korporata Elektroenergjitike Shqiptare
Jul 4 16
The European Bank for Reconstruction and Development (EBRD) is supporting the modernisation of Korporata Elektroenergjitike Shqiptare (KESH), with a EUR 218 million loan to support a company restructuring and reform package. Helping KESH modernise and improve its financial standing, as well as building resilience in the face of climate vulnerabilities, is part of the EBRD's strategy to help the countries where it invests to address challenges of energy security and climate change. The EBRD loan will be sovereign-guaranteed and provide KESH with long-term financing which will reduce costs and increase liquidity. This will free up resources to allow the company to focus on the maintenance of existing assets and the implementation of a long-term investment and modernisation programme. Under a comprehensive reform package, KESH will also improve its corporate governance and operational efficiency. The implementation of these changes will allow KESH to comply with the requirements of relevant EU regulations in the energy sector. These provisions include the development of a power exchange, regional integration and tariff formation. The EBRD is also providing technical assistance from its own donor funds to help KESH implement climate resilience components in its daily operations and management.
The European Bank for Reconstruction and Development Refinances KESH with Loan of EUR 218 Million its Restructuring Reforms
Mar 23 16
The European Bank for Reconstruction and Development (EBRD) announced that it intends to back the restructuring reforms of KESH by refinancing its short-term debt with a loan worth EUR 218 million ($243.8 million). The objective of the project, which is pending final review, is the achievement of long term sustainability of KESH and of the Albanian energy sector in general through the restructuring of its governance, market practices and regional trade. The EUR 218 million loan will be divided into two tranches. The bank said it will also review KESH's operation and whether the current investment plans allow KESH to attain EU environmental standards.
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