Free subscription

Subscribe to our newsletter and keep yourself updated

Balkan News

Alcazar and IFC invest 500 million euros in the largest wind farm in North Macedonia

30 april 2025

Alcazar Energy Partners (AEP) and the International Finance Corporation (IFC), part of the World Bank Group, officially announced a joint project to build a 400 MW wind farm in North Macedonia. This will be the largest such installation in the country to date, BalkanEngineer.com has learned from AEP's official announcement.

snimka1 MK_5

The 500 million euro project will be implemented in several phases, with the first phase scheduled to begin later in 2025. Upon completion, the Shtip wind farm will provide clean electricity to over 100,000 households and help reduce carbon emissions by up to 690,000 t per year.

 

The signing of the agreement took place on the sidelines of the ESG Adria Summit Forum, and the event was graced by high-ranking representatives of the Government of North Macedonia, as well as senior energy sector figures from IFC and AEP.

 

The Shtip wind farm is AEP's first project in Northern Macedonia, but the company already has a significant presence in the Balkans. In 2023, it acquired a 119 MW project in Montenegro, and in Serbia it is investing in a 200 MW project along with a 768 MW portfolio of renewable assets. With this transaction, Alcazar Energy Partners reinforces its strategic focus on the Western Balkans, with its total project capacity in the region now exceeding 1.5 GW.

 

North Macedonia, which relies heavily on imported electricity, sees the project as a crucial tool for achieving energy independence and meeting national climate commitments.

2 МК

Photo source: ©Engineer BG via Canva.com

 

Balkan News

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6

see all »

Balkan Events

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6

see all »