The Czech power utility CEZ offered €102 million on Monday to win a 76% stake in Albania’s power distributor DSO after Albania found Italy’s Enel technical bid insufficient.
“The financial offer from CEZ is €102 million,” Fatjon Tugu, a member of the government commission told the audience. The commission’s chairman Neritan Alibali said Enel’s technical bid was “not compatible with the criteria” imposed by Albania while CEZ’s bid “fully met” the conditions.
Albania hopes the sale of DSO, which is the distributing arm of cash-strapped state-owned power utility KESH, will gradually reduce chronic power shortages that have hurt the quality of life and growth for a decade in one of Europe’s poorest states. (Reuters)