Energy Minister Zhetso Stankov and a delegation he led held final discussions in New York with the management of Citi, the Ministry announced.

It is transforming Sazan Island, located at the entrance of the Gulf of Vlora, into an ultra-luxury resort destination.

The firm with global influence and controversial projects.

The company has undertaken one of the few transportation projects in Europe where four TBMs are used simultaneously, and it is considered emblematic for the country.

The deal is Masdar’s latest involvement in the southern European power space, following its €3.2 billion (US$3.4 billion) acquisition of Greek power company Terna Energy.