Notice2022-15791
Notice of Entering Into a Compact With the Government of Kosovo
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
July 25, 2022
Issuing agencies
Millennium Challenge Corporation
Abstract
In accordance with the provisions of the Millennium Challenge Act of 2003, as amended, the Millennium Challenge Corporation (MCC) is publishing a summary of the Millennium Challenge Compact (Compact) between the United States of America, acting through MCC, and the Government of Kosovo. Representatives of MCC and the Government of Kosovo executed the Compact on July 15, 2022. The complete text of the Compact has been posted at: https://assets.mcc.gov/content/uploads/ compact-kosovo.pdf.
Full Text
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<title>Federal Register, Volume 87 Issue 141 (Monday, July 25, 2022)</title>
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[Federal Register Volume 87, Number 141 (Monday, July 25, 2022)]
[Notices]
[Pages 44153-44154]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-15791]
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MILLENNIUM CHALLENGE CORPORATION
[MCC FR 22-08]
Notice of Entering Into a Compact With the Government of Kosovo
AGENCY: Millennium Challenge Corporation.
ACTION: Notice.
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SUMMARY: In accordance with the provisions of the Millennium Challenge
Act of 2003, as amended, the Millennium Challenge Corporation (MCC) is
publishing a summary of the Millennium Challenge Compact (Compact)
between the United States of America, acting through MCC, and the
Government of Kosovo. Representatives of MCC and the Government of
Kosovo executed the Compact on July 15, 2022. The complete text of the
Compact has been posted at: <a href="https://assets.mcc.gov/content/uploads/compact-kosovo.pdf">https://assets.mcc.gov/content/uploads/compact-kosovo.pdf</a>.
(Authority: 22 U.S.C. 7709 (b)(3))
Dated: July 19, 2022.
Thomas G. Hohenthaner,
Acting VP/General Counsel and Corporate Secretary.
Summary of Kosovo Compact
Overview of MCC Kosovo Compact
MCC's five-year Compact with the Government of Kosovo in the amount
of $202,000,000 aims to reduce poverty through economic growth by
targeting a binding constraint to economic growth in the country: the
unreliable supply of electricity. The Compact will address this
constraint through three projects: the Energy Storage Project, the Just
and Equitable Transition Acceleration (JETA) Project, and the American
Catalyst Facility for Development (ACFD) Project. The ACFD Project
leverages U.S. International Development Finance Corporation (DFC)
financing to complement the objectives of the Energy Storage Project.
MCC's investments in Kosovo's energy sector will accelerate Kosovo's
transition towards an energy future that is more sustainable,
inclusive, reliable, and affordable.
Project Summaries
The projects and activities to be completed are:
1. Energy Storage Project: The objective of the Energy Storage
Project is to support energy security and transition to a cleaner
energy future, as reflected by the (1) usage of energy storage systems;
(2) availability of the energy storage system; and (3) reduced cost of
securing adequate electricity for Kosovo. The project includes three
activities:
<bullet> Frequency Restoration Response Activity: This activity
intends to support the transmission system operator in owning and
operating approximately 90 megawatt-hours (MWh) of energy reserves to
cost-effectively smooth out unexpected imbalances in the electricity
grid.
<bullet> Multi-Functional Energy Storage (MFES) Activity: This
activity intends to support a public or public-private partnership
battery storage entity in owning and operating approximately 250MWh of
energy storage that could be used for frequency restoration reserves,
energy arbitrage, or other potential ancillary services, filling in
gaps of longer-scale, unexpected outages or shifting energy to cover
peak demand.
<bullet> Energy and Climate Policy Support Activity: This activity
intends to support technical and administrative capacity building for
energy and climate regulators and the policy and institutional reforms
required to ensure the operating environment for energy storage in
Kosovo is well defined and regulated through Kosovo's laws and
supported by good planning, maintenance, and cost-reflective tariffs.
It also aims to support cross-cutting measures on female employment and
entrepreneurship across projects, and policy and institutional reform
around pro-poor and gender-inclusive planning in the sector.
2. JETA Project: The objectives of the JETA Project are to (1)
produce graduates who are hired in relevant jobs in the energy and
adjacent sectors; and (2) increase employment of women among
participating employers in the
[[Page 44154]]
Inclusive Energy Sector Workforce Activity.
<bullet> Energy Skills for the Future Activity: This activity aims
to establish new technical training programs and builds on existing
programs to provide the skills demanded by employers in the energy and
adjacent sectors, aiming to facilitate the Government of Kosovo's
energy transition and increasing women's participation in such
programs.
<bullet> Inclusive Energy Sector Workforce Activity: This activity
aims to incentivize gender equitable practices among energy sector
employers, support networking, training, and mentoring opportunities
for women, and provide technical assistance to help increase female
representation in energy companies in Kosovo.
3. ACFD Project: The objective of the ACFD Project is to facilitate
complementary DFC investments in Kosovo. The project aims to leverage
DFC's financing to support one or more blended finance transaction(s)
that will catalyze private investment in Kosovo that could include (1)
complementing MCC's funding to deliver a public private partnership
focused transaction for energy storage in lieu of a public entity for
the MFES Activity; (2) leveraging private sector participation to scale
a successful energy storage public entity launch via additional private
sector delivered storage systems and services (i.e., additionally
leased energy storage capacity); and (3) catalyzing complementary
renewable energy investments that bolster generation capacity and
strengthen the energy storage entity business case.
Kosovo Compact Budget
The compact budget is up to $236,670,600, which includes up to
$202,000,000 funded by MCC and a contribution from the Government of
Kosovo of $34,670,600.
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Component MCC funding
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1. Energy Storage Project............................... $147,695,906
1.1 Frequency Restoration Response Activity......... 21,481,015
1.2 Multi-Functional Energy Storage Activity........ 116,588,890
1.3 Energy and Climate Policy Support Activity...... 9,626,001
2. Just and Equitable Transition Acceleration Project... 16,000,000
2.1 Energy Skills for the Future Activity........... 8,000,000
2.2 Inclusive Energy Sector Workforce Activity...... 8,000,000
3. American Catalyst Facility for Development........... 2,000,000
4. Monitoring and Evaluation............................ 3,565,000
5. Program Management and Administration................ 32,739,094
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Total MCC Funding................................... 202,000,000
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Total compact funding Amount
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Total MCC Funding....................................... $202,000,000
Government of Kosovo Contribution....................... 34,670,600
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Total Compact....................................... 236,670,600
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[FR Doc. 2022-15791 Filed 7-22-22; 8:45 am]
BILLING CODE 9211-03-P
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