The settlement agreement is the result of lengthy negotiations entered into by the parties in good faith with the intermediation of Mr. Dirk Buschle, Deputy Director of the Energy Community Secretariat in Vienna, Austria. The negotiations were held at the premises of the Energy Community Secretariat.

The settlement agreement resolves all claims between the CEZ Group on the one hand and the Republic of Albania on the other hand relating to CEZ’s investment in CEZ Shperndarje and the Albanian energy sector.

To the extent required by national laws, the terms of settlement will be disclosed in the course of the final approval process by national authorities.  

Both parties pledge that the agreement contains no acknowledgement of any wrongdoing by any party.