North Macedonia is targeting a 2027 construction start for the long-planned Čebren and Galište hydropower projects, reviving a combined investment of up to €1.5 billion after years of unsuccessful concession attempts.
Čebren is planned with a capacity of around 333 MW, while Galište would add approximately 193.5 MW.
The government says international financial institutions have expressed interest in supporting the scheme, although no binding lender commitment or financial close has yet been announced.
That distinction is particularly important.
The projects have been under discussion for years, while previous private concession models failed to reach implementation.
The latest approach increasingly points towards a state-led development structure supported by institutional financing.
If completed, the two plants would significantly strengthen North Macedonia’s domestic generation capacity and system flexibility.
Large hydropower facilities could provide balancing services, reserves and peak generation as the country expands wind, solar and battery storage while seeking to reduce its reliance on lignite.
The economics, however, remain challenging.
With an estimated investment of up to €1.5 billion, the projects would require substantial long-term financing and a clear revenue framework capable of supporting both construction and operating risks.
Environmental permitting and water management will also remain important issues as the projects move towards implementation.
The new 2027 target should therefore be viewed as an execution objective rather than a secured timetable.
The next decisive milestone will be financing.
Until that is secured, Čebren and Galište remain among Southeast Europe’s most strategically significant — and repeatedly delayed — hydropower projects.
