Shala Energy PLC is wholly owned subsidiary of 3 Power energy ink group from USA ( put the website of 3power) The company 3 power energy PLC, hasa 75% stake in Shala Energy Albania.
Shala energy is a concessionaire company in Albania granted concession rights for 35 years for the purpose of the construction of a hydropower plant cascade on the Shala River. Shala river or Lumii Shales is a river in Northern Albania that feeds itself from the Albanian Alps and runs for 376 km.
The company is set to construct 6 power plants on the river with a combined power of 127,6 MW set to produce 530,35 GW of electricity each year.
The power plant cascade is scheduled to be constructed in two phases set for completion at the end of 2018. Phase 1 corresponds to constructing the first hydropower plant at Grunnasi, connecting it to the Albanian national grid, and generating revenues by selling electricity to the Albanian government and on the spot market. In Phase two of the project, additional power plants are planned for construction 3Power Energy from USA has a 75%« stake in Shala energy, while Interenergo Albania holds a 25°/» stake in the company.