Alcazar Energy Partners unveils 400 MW wind power project in North Macedonia.

By Oliver Townsend Jun 25, 2024
Alcazar Energy Partners launches 400 MW wind power project in North Macedonia.jpegOrginal image from:

Alcazar Energy Partners is embarking on a game-changing venture by launching a 400 MW wind power project in North Macedonia. With an investment of over USD 500 million, this project marks a significant milestone for the company in its pursuit of developing the largest renewable energy platform in the Western Balkans. The wind power plant will be located in the municipalities of Karbinci, Radoviš, and Štip, south of the capital city of Skopje, and is set to boost North Macedonia’s wind capacity by nearly five times.

The Vision Behind the Project

Alcazar Energy Partners is dedicated to providing North Macedonia with clean and affordable electricity while creating sustainable local employment opportunities. Co-Founder and Managing Partner of Alcazar Energy, Daniel Calderon, expressed his enthusiasm for the project, emphasizing the positive impact it will have on the region. The company aims to collaborate closely with the government and local stakeholders to build the country’s largest wind farm and significantly increase its installed wind capacity.

Speaking at the Belgrade Energy Forum 2024, Calderon revealed Alcazar Energy’s plans to acquire additional renewable energy projects in the Western Balkans to reach a total capacity of 1 GW. With a total investment approaching USD 1 billion in the region, the company is committed to sustainable infrastructure development and adherence to ESG principles.

Driving Energy Independence

The wind park project in North Macedonia aligns with the country’s pursuit of energy independence and its commitment to the Just Transition Investment Platform announced at COP28. Estimated to create over 630 construction jobs and produce clean energy for more than 100,000 households, the project will significantly reduce carbon emissions and contribute to a greener future for the region.

Prime Minister Hristijan Mickoski emphasized the importance of this investment in establishing energy independence for Macedonia. With an estimated value of EUR 400 million to EUR 450 million, the project is anticipated to boost the country’s gross domestic product by EUR 100 million. Mickoski’s government sees this project as a crucial step towards generating electricity for domestic needs and potential exports to neighboring countries.

Regional Impact and Sustainability

Due to North Macedonia’s grid connections with Greece, Bulgaria, Serbia, and Kosovo*, the wind power project will not only address energy shortages but also support the wider transition to renewable energy in the Western Balkans and Southeast Europe. Alcazar Energy’s commitment to sustainable infrastructure development through its investment in renewable energy projects underscores the company’s dedication to driving positive change in the region.

As a Luxembourg-based sustainable infrastructure fund, Alcazar Energy Partners is focused on utility-scale renewable energy projects in emerging markets. With the recent closure of its second investment vehicle at USD 490 million, the company aims to develop over 1.6 GW of clean energy projects, mitigate greenhouse gas emissions, and mobilize foreign direct investment across key emerging markets.

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *