Alcazar Energy Partners, a prominent investor in renewable energy within emerging markets, has unveiled its plans for the largest wind farm in North Macedonia, boasting a capacity of up to 400 MW.
This initiative marks a significant stride towards the company’s ambitious goal of establishing the most extensive renewable energy platform in the Western Balkans.
The investment, surpassing US$500 million, stands as the largest ever made in renewable infrastructure in the country.
It will position the project as one of the largest wind farms in the Western Balkans, quintupling North Macedonia’s current installed wind capacity upon completion. Financial closure and the commencement of construction are anticipated in the second half of 2025.
Supporting North Macedonia’s Green Transition
Located 75 km south of Skopje, the Shtip project will play a pivotal role in advancing North Macedonia’s Just Transition Investment Platform, introduced at COP28.
The project will significantly contribute to curbing greenhouse gas emissions in the country.
It is projected to create over 630 construction jobs, and once operational, it will generate enough clean energy to power more than 100,000 households annually, while mitigating the release of over 670,000 tons of carbon dioxide equivalent per year.
Strengthening Energy Security in the Western Balkans
This project signifies Alcazar Energy’s second major achievement in its mission to build the largest renewable energy platform in the Western Balkans, with a projected total regional investment of approximately US$1 billion.
The investment will not only enhance the energy mix in North Macedonia but will also significantly bolster the energy security of the broader Western Balkans region.
Through North Macedonia’s grid connections with Greece, Bulgaria, Serbia, and Kosovo, the project will contribute to mitigating energy shortages and supporting the transition to renewable energy sources in the region and Southeast Europe.
Statements from Alcazar and North Macedonian Leadership
Daniel Calderon, Co-Founder and Managing Partner of Alcazar Energy, expressed his enthusiasm for launching this major wind farm project, emphasizing the company’s commitment to providing clean, affordable electricity and creating local jobs.
He highlighted Alcazar Energy’s view of North Macedonia as a promising investment destination for renewable energy and their eagerness to collaborate with the government and stakeholders to build the country’s largest wind farm.
Hristijan Mickoski, the Prime Minister of North Macedonia, hailed the investment as the largest ever made in renewable energy sources in the country. He emphasized the government’s policy of achieving energy independence for North Macedonia through multiple investments in the energy sector.
Mickoski highlighted the wind farm’s potential to increase the country’s renewable energy capacity fivefold and contribute to the energy needs of its citizens, with surplus electricity available for export to neighboring countries.