Macedonian government will cancel a tender for the construction of the 333 MW Cebren hydropower plant, valued at 1 billion euro, after the selected consortium, composed of Greek companies PPC and Archirodon, failed to fulfil the conditions required for signing a concession contract, environment minister Kaja Shukova announce.
The Greek companies encountered difficulties obtaining funding for the project due to specific conditions in the tender, leading the government to reject the extension of a banking guarantee, Shukova told a press conference streamed on the Facebook profile of Macedonian Information Agency.
The banking guarantee was a precondition for signing the concession contract for the project, the minister added.
The government decided to award the concession contract for the construction of Cebren HPP to the Greek consortium in September 2023.
The project is planned to be carried out as a public-private partnership with state-owned electricity company ESM.
