The Government of the Republic of North Macedonia has secured EUR 36.2 million for a new investment in the energy sector that will extend the life of six large hydro power plants, increase their installed power, and increase domestic electricity production. The funds are obtained from a EUR 25 million loan from the KfV Development Bank, EUR 11.2 million grant from WBIF, and EUR 0.2 million from the German Government.
The investment will be realized in the next two years. It will include the revitalization of six large hydro power plants (HPP Vrutok, HPP Vrben, HPP Raven, HPP Tikvesh, HPP Shpilje and HPP Globochica), which account for 20 to 30% of North Macedonia’s total electricity production. Their installed power will increase by an additional 13.5 MW as a result of this investment and the annual electricity production will rise by around 47.5 GWh. The investment also guarantees lower maintenance costs, improved system stability and reliability, and environmental protection.
This investment will cover the third phase of the revitalization of the hydro power plants.
The information in this document does not constitute legal advice on any particular matter and is provided for general informational purposes only.