Floating Photovoltaic Plant on the Surface of Vau i Dejes

An SPV to be incorporated by Korporata Elektroenergjitike Shqiptare Sh.A., a state-owned Albanian power company, shall construct a floating photovoltaic plant on the surface of the Vau i Dejes hydropower plant reservoir with an installed capacity of 12.9 MW.

Photovoltaic Park of Karavasta

The company Voltalia, with 100% French capital, has been announced the winner of the auction for the construction of the photovoltaic park of Karavasta with an installed capacity of 140 MW.

Concession for the Construction of Vlora Airport

The Albanian Ministry of Infrastructure and Energy has opened tender procedures for the construction of Vlora Airport

Infrastructure and Tourism Enabling Programme

Provision of a sovereign loan facility of up to EUR 60 million to the Republic of Albania to finance tourism-enabling and general municipal infrastructure and transport infrastructure.

New Albanian Air Code Adopted to Reflect EU and ICAO Requirements

The Albanian Parliament recently enacted a new Air Code effective as of 22 August 2020 (Law 96/2020, Official Gazette No. 146, dated 7 August 2020).

Road Infrastructure Project Milot – Thumane – Rrogozhine - Fier

The Albanian Prime Minister announced on 3 June 2020 the development of a major infrastructure project that will directly connect through a dedicated highway in the north-western city of Milot with Fier (located in the southwest of the country). The construction costs of the project are expected to be approximately EUR 1.2 billion, whereas including VAT and expropriation costs, the overall value of the project is expected at around EUR 1.7 billion. The development formula will be through a PPP contract. The Albanian Government will guarantee up to 10% of the traffic (approximately EUR 121 million)…

Construction of Llogara Tunnel

The Albanian Government has announced in June 2020 the construction of Llogara Tunnel.

New Law on Collective Investment Undertakings in Albania

Albanian Parliament recently enacted a new Law on collective investment undertakings which entered into force on 20 June 2020.

Albanian Government Passes Detailed Rules on Concessions/PPPs

The Albanian Government has recently passed a decision with rules that are necessary for the implementation of the legal framework on concessions/PPPs.

Opening of a Bank Account in Albania: Physical Presence of the Client no Longer Required

With the recent amendments introduced in the banking Regulation on Prevention of Money Laundering and Terrorism Financing (No. 44/2009), the Bank of Albania has abrogated the restriction of opening of a bank account only upon the physical presence of the Client.

Perparim Kalo’s Reflections on the Lawyering after Three Decades

KALO & ASSOCIATES has celebrated its 25th Anniversary in 2019. To reflect on that, the managing partner of the firm, Perparim Kalo, discusses the development of the legal practice in Albania during the last 30 years.

Fiscal Package 2020 Introduced in Albania

KALO & ASSOCIATES present their first Tax Bulletin for 2020 discussing the Fiscal Package 2020 that has been introduced in Albania as of 15 January 2020.