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Alcazar Energy launches $500 mln wind power project in N. Macedonia

Jun 25, 2024, 12:16:31 PMArticle by Dragana Petrushevska
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June 25 (SeeNews) - Luxembourg-based renewable energy investor Alcazar Energy announced on Tuesday the launch of a $500 million (465.8 million euro) project to build a wind power plant with a capacity of up to 400 MW in North Macedonia, marking the largest project of its kind in the country.

Alcazar Energy launches $500 mln wind power project in N. Macedonia

The wind farm is expected to power over 100,000 households annually and nearly quintuple North Macedonia’s installed wind capacity once fully operational, Alcazar Energy said in a press release.

Additionally, it will reduce the release of over 670,000 tonnes of CO2-eq per year.

Construction of the wind power plant, which will be built between the municipalities Karbinci, Radovish and Shtip, is scheduled to start in early 2026. The project is estimated to create more than 630 construction jobs.

The project is part of Alcazar Energy’s strategy to create the region’s largest renewable energy platform, with an estimated total project investment in the region of around $1 billion. In September, Alcazar Energy acquired the rights for a 118 MW wind farm project in Montenegro, valued at approximately $200 million.

($ = 0.932 euro)

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