Luxembourg-based renewable energy investor Alcazar Energy Partners has signed a development support agreement with the International Finance Corporation (IFC), a member of the World Bank Group, to advance a major wind power project in North Macedonia.
The agreement will provide development funding for the initial phase of the Stip wind farm, a 400 MW project expected to break ground in late 2025. Valued at 500 million euros, the wind farm is projected to supply clean electricity to over 100,000 households and reduce annual carbon dioxide emissions by around 690,000 tons.
This project marks Alcazar Energy’s entry into North Macedonia’s energy market and forms part of its broader strategy to expand across the Western Balkans. The company is currently developing a regional portfolio of 1.5 GW in wind and solar capacity to support domestic energy targets and contribute to global climate goals.
In 2023, Alcazar Energy acquired development rights for a 119 MW wind project in Montenegro. It also secured rights to develop, construct, and operate the 200 MW Celzijus 1 wind project in eastern Serbia, alongside a broader renewable energy pipeline totaling 768 MW in the country.
