Renewable energy investor Alcazar Energy announced plans to invest $500 million in what it called 'the largest wind farm project in North Macedonia' with a capacity of up to 400-megawatts, on Tuesday.
The investment represents the largest commitment to renewable infrastructure in the country's history, Alcazar Energy said in a statement.
Positioned among the largest wind farms in the Western Balkans, the project is set to nearly fivefold North Macedonia's current installed wind capacity upon completion, according to the statement.
Construction for the Shtip project, located 75 kilometers south of Skopje, is slated to commence in early 2026.
North Macedonia's Prime Minister Hristijan Mickoski said the investment marks the beginning of the government's policy to create energy independence for the country.
'The wind farm in south-eastern Macedonia will increase the potential of Macedonia in the area of renewable energy resources by five times,' Mickoski added.
(Anadolu Agency, June 25, 2024)
