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Eastern Europe and CIS
Albania Austria's Verbund will start construction of a 50 MW hydropower station, worth €160m, on the Drin River this month. The project will be the first hydropower plant built in the country since the end of communism two decades ago. Three communist-era hydro-electric plants produce almost all of the country's electricity requirements. Albania suffers frequent blackouts. Azerbaijan Moody's Investors Service has assigned a Ba1 rating to state-owned Socar's debt and said the outlook on the ratings is stable. Moody's said the rating of the company is constrained by the Ba1 sovereign rating and a one-notch downgrade of the sovereign rating would result in a similar downgrade of Socar's corporate family rating. Azerigaz intends to build a new pipeline to export gas to Iran, because capacity limitations of the existing pipeline connecting the countries makes it impossible to increase supply. The ...Click here to continue reading Eastern Europe and CIS
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