Albania is investing 162.8 million euros (206.8 million U.S. dollars) to buy 2.2 million MWhs of electricity to last the country throughout the whole year of 2007, the national utility company KESH said on Tuesday.

Two Albanian firms, three Swiss ones, one German and one Czech company put in their tenders on Monday afternoon for the contract to supply electricity to Albania, it was reported.

KESH may take up to one month to sort out the bids, saying it may invite several firms to cooperate, since no companies have tendered to supply the entire amount that Albania is asking for.

Before 1990, Albania even exported hydropower to its Balkan neighbors, but it has suffered chronic power problems since then due to soaring domestic consumption, non-payment, aging system and poor maintenance.

Albania depends heavily on hydropower, with 90 percent of its electricity produced in the north from hydroelectric plants that suffer from low rainfall and outdated technology.

The last plant was built some 30 years ago and there has been little investment in the grid since.

Source: Xinhua