Tirana - The Austrian and Norwegian energy suppliers EVN and Statkraft signed a 950-million euros (1.37-billion dollars) deal Friday to build three hydro-electric power plants in Albania, EVN said in a statement.

The three plants on the river Devol, which flows into the Adriatic south of the capital Tirana, would produce a combined 340 megawatts of power and generate 1,000 gigawatt-hours of electricity annually, improving the energy situation in Albania.

EVN and Statkraft are to carry out the project through a 50-50 per cent joint venture.

Albania suffers from a chronic power deficit and is plagued by frequent blackouts and brownouts, particularly amid the increased demand during the cold months. (dpa)