The two projects are both located in eastern North Macedonia and are expected to require an overall investment of €116 million.
Image: dimitrisvetsikas1969/Pixabay
The government of North Macedonia has granted strategic investment status to two photovoltaic projects with a combined capacity of 155 MW. One of the two facilities has a capacity of 85 MW and is being planned by Renewable Power International in the municipality of Karbinci, in the eastern part of North Macedonia.
The second solar park is planned to have a capacity of 70 MW and to be located in Pechevo, which is also in eastern North Macedonia. Its developer is Hek Solar MK. The government said the first project is expected to require an investment of €63 million and the second around €53 million, without disclosing further details.
North Macedonia is currently supporting large scale solar through a series of tenders. The most recent one was launched by the Ministry of Economy in July. Other solar tenders were previously held in the country by the state-owned electric company Elektrani na Severna Makedonija (ESM).
Furthermore, Bulgaria-based solar developer Solarpro Holding won, in April, a tender to build a 50 MW solar power plant at the former Oslomej coal power plant near Kicevo, North Macedonia.
According to the latest figures from the International Renewable Energy Agency (IRENA), the Balkan country had around 94 MW of cumulative installed PV capacity at the end of 2020.
More articles from Emiliano Bellini
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By JelenaPajic
21 Nov 2024
The European Bank for Reconstruction and Development (EBRD), the European Union (EU) and Japan are stepping up support for green finance in North Macedonia with new funds for NLB Bank AD Skopje.
The EBRD’s loan of up to €4 million to NLB Bank AD Skopje will support energy-efficiency investments by homeowners, housing collectives, producers and service providers. In addition to loans, borrowers will receive cashback incentive grants of up to 20 per cent of total investment, funded by theEuropean Union(EU) andJapan.
The loan agreement was signed by Matteo Colangeli, EBRD Regional Director for the Western Balkans, and Toni Stojanovski, CEO, President of the Management Board of NLB Bank AD Skopje.
Matteo Colangeli said: “This loan will support North Macedonia’s green energy transition by funding energy-efficiency upgrades in residential buildings, the country’s largest energy consumers. Partnering with local financial institutions like NLB Bank AD Skopje is essential for the success of initiatives like this, as it strengthens local financial ecosystems and ensures that funding reaches communities more effectively. This project not only contributes to a greener and more sustainable future for North Macedonia but also brings direct benefits to its citizens by reducing energy bills and improving the quality of the housing stock.”
"We are happy to continue our cooperation with the European Bank for Reconstruction and Development and to promote green lending in partnership, enabling households to have easier access to affordable funds for financing projects that contribute to energy efficiency and environmental protection, which in turn are significant a pillar of our responsible lending policy. This cooperation underlines our common vision for a sustainable future and encouraging the green transition in the financial sector," said Toni Stojanovski.
This loan to NLB Bank AD Skopje under the WBGEFF III programme will support high‑performing green technologies, materials and solutions for privately owned residential dwellings and buildings. Investment in energy-saving equipment such as insulation, windows, heat pumps and solar panels will reduce greenhouse gas emissions, cut energy costs and improve residents’ quality of life. It will also help to address the high energy and carbon intensity of North Macedonia’s residential and public sectors.
The loan will facilitate the Bank’s Green Economy Transition approach and will be supported by the Japan-EBRD Cooperation Fund and the EU through theWestern Balkans Investment Framework(WBIF).
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