Renewable energy investor Alcazar Energy Partners has announced the launch of the largest wind farm project in Northern Macedonia, with a financial injection of $500 million in debt and equity. Located 75 km south of Skopje, the Shtip project aims to generate 400 megawatts of renewable energy, contributing to the country’s energy transition, announced at the COP28 climate talks.
A Strategic Project for Energy Transition
The project is part of North Macedonia’s plan to gradually reduce its dependence on coal. The Shtip wind farm is set to increase the country’s installed wind power capacity by a factor of five, powering over 100,000 homes and avoiding the emission of over 670,000 tonnes of CO2 per year. Daniel Calderon, co-founder of Alcazar, highlights Northern Macedonia‘s significant potential for the development of renewable energies. Thanks to its geographical position and grid connections with Greece, Bulgaria, Serbia and Kosovo, the project should not only meet local energy needs, but also support the energy transition of the entire region.
Solid Financial Support
Project financing will be overseen by Alcazar, which recently raised $490 million through Alcazar Energy Partners II, with support from the U.S. International Development Finance Corporation and other public and private investors. Construction is scheduled to start in the second half of 2025, with commissioning scheduled for late 2027. The Prime Minister of North Macedonia, Hristijan Mickoski, said the project was crucial for Europe, given North Macedonia’s extensive interconnections with its neighbors. It will provide clean, affordable energy at a crucial time when the continent is striving to reduce its dependence on fossil fuels. Energy transition has become a priority for many European countries, and North Macedonia is no exception. This wind power project marks an important step towards energy independence and environmental sustainability, while offering significant economic opportunities for the region.
Alcazar Energy Partners continues to demonstrate its commitment to renewable energies by investing in large-scale projects that not only benefit local economies but also contribute to the fight against climate change.
