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In December 2017 Kosovo authorities signed a contract with US company Contour Global to build the 500 MW unit, at a cost of 1.3 billion euros. Construction is planned to start in late 2018 or early 2019.<ref>[http://www.gazetaexpress.com/en/news/kosovo-signs-contract-to-build-new-power-plant-173384/ "Kosovo signs contract to build new power plant,"] Gazeta Express, 20 December 2017</ref>
In April 2018 ContourGlobal stated that it was seeking to attract a partner for up to a 49 per cent take in the project by the end of 2018 or early 2019. ContourGlobal CEO Joseph Brandt told Reuters that he was confident of securing financing for the project.<ref>Susanna Twidale, [https://uk.reuters.com/article/uk-contourglobal-results/contourglobal-seeking-equity-partner-for-new-kosovo-coal-plant-idUKKCN1HC0MH "ContourGlobal seeking equity partner for new Kosovo coal plant"], ''Reuters'', April 5, 2018.</ref> In its 2018 annual report , the company stated that "financial close and start of construction is expected late 2018/early 2019."<ref>[http://www.contourglobal.com/sites/default/files/2018-04/cg_2017_results_prelims_announcement_final_0.pdf "ContourGlobal - 2017 Preliminary Results Presentation"], ContourGlobal, April 5, 2018, page 10.</ref>
In early June 2018 the World Bank said it was reassessing its support for the plant - the only coal power plant project left on its books. The Bank said it was finalising work on a study of the country’s options for rebuilding its power sector, with consideration of the the declining costs of renewables.<ref>[http://www.climatechangenews.com/2018/06/13/world-bank-reconsidering-support-last-coal-plant/ "World Bank reconsidering support for its last coal plant,"] Climate Home, 13/06/2018</ref>
