The European Bank for Reconstruction and Development (EBRD) is currently evaluating a proposal to finance a significant renewable energy initiative in North Macedonia. This project, which involves the establishment of a 131 MW wind facility, aims to bolster the country’s transition towards sustainable energy sources. The EBRD’s financial support would be structured as a long-term senior loan, facilitating the initial phase of this multi-phase development.
The venture is spearheaded by STP Wind, a special purpose vehicle formed by Alcazar Energy Partners, an investor specializing in renewable energy based in the United Arab Emirates. The planned wind complex is set to be constructed across various municipalities in eastern North Macedonia, including Stip, Radovis, and Karbinci.
Documentation from the EBRD indicates that the overall capacity of the project is anticipated to reach approximately 400 MW upon completion. The construction will incorporate up to 54 wind turbines, each with individual capacities ranging from 6 MW to 8 MW. In addition to the turbines, the project will include essential infrastructure such as substations, internal access roads, and a transmission line that connects the facility to the national electricity grid.
Alcazar Energy Partners commenced work on this development in July 2025 and has projected that total investments required for the entire complex could amount to around 430 million euros. If successful, this initiative could position itself as the largest wind power installation in the Western Balkans region.
The initial phase of 131 MW is particularly significant as North Macedonia seeks to reduce its reliance on coal-fired electricity and enhance its renewable generation capacity. The EBRD’s board is scheduled to review the financing proposal on April 29; however, specific details regarding the loan amount have not yet been disclosed.
