“Integrated Energy BV SPV,” the concession company operating the Tirana incinerator, posted a pre-tax profit of 792.3 million lek in 2025 (more than €8 million), even though the waste incineration plant for which the contract was awarded has not been built.

According to its 2025 financial statements, revenue from its core operations reached 1.5 billion lek. The company states in the report that its revenue comes from waste processing.

During 2025, waste from municipalities in the region and private operators under contract was received and treated. According to official data, approximately 492,935 tons were treated during the year.

Pre-tax profit accounted for about 53% of revenue. For every 100 lek in revenue, the company generated nearly 53 lek in pre-tax profit, an exceptionally high margin for a contract financed largely through public payments for waste treatment.

After paying 119.6 million lek in taxes, “Integrated Energy BV SPV” ended 2025 with a net profit of 672.8 million lek, nearly €7 million.

The Tirana waste concession has continued to receive regular payments from the state budget even after it was placed under seizure and despite providing only waste management services without completing the planned investment in the construction of the incinerator. In 2025, the company received 913 million lek in budget payments, while it has received a total of 8.4 billion lek since 2017.

The financial results take on added significance because of the history of the contract and the criminal investigations. The concession, with a projected investment value of €128.2 million excluding VAT, was awarded in 2017 for the construction of a landfill and incinerator, the rehabilitation of existing disposal sites, and the production of electricity.

However, the industrial incineration plant was not built. The Supreme State Audit found that the Municipality of Tirana and state institutions were paying the full fee of €29 per ton, even though the fee also covered the incineration process, which was not being carried out.

The company has been under preventive seizure since July 2023 and is administered by the state. According to SPAK, its “de facto” owners are Mirel Mërtiri and Klodian Zoto, regardless of the formal ownership structure registered abroad.

In July 2026, SPAK sent 12 individuals and the two companies “Integrated Energy BV SPV” and “Integrated Technology Service” to trial. The concession company itself is charged with fraud with serious consequences and laundering the proceeds of crime.

According to SPAK, from the start of the contract until the seizure was imposed in 2023, the company generated 11.3 billion lek in revenue, while only €21 million was invested in the construction of the facility.

Prosecutors allege that large sums were withdrawn from the accounts through fictitious invoices, companies established inside and outside Albania, and cash transfers. The amount identified by the investigation totals 1.28 billion lek and €16.7 million.

The 53% pre-tax profit margin shows that the contract continues to generate substantial profits, while the main facility that was supposed to justify the fee and the public investment—the incinerator—has still not been built, nine years after the contract entered into force./Monitor

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