First private sector energy investment in Macedonia

The European Bank for Reconstruction and Development has financed the development of seven hydro power plants in Macedonia through the provision of a € 6 M loan, representing its first private sector energy investment in the country. The project is financed through the Western Balkans Sustainable Energy Direct funding facility.

The bank provided the loan to Macedonian renewable energy company Mali Hidro Elektrani, which will develop power plants along seven of the country’s rivers with a combined capacity of 5.83MW.
The hydro power plants are estimated to power Macedonia’s distribution grid with around 21,630MWh of electricity per year.
The projects will benefit from preferential purchase agreements with the Macedonian Transmission System Operator and from a tariff scheme for renewable energy projects.

Source: http://www.newenergyworldnetwork.com/

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