January 31 (SeeNews) - The share of renewable energy sources in North Macedonia's electricity production is expected to reach 46% by 2025, the country's finance ministry said.
The country plans to implement several environment reforms from 2022 through 2024, focusing on improvements in the treatment of solid waste and wastewater, energy efficiency and renewable energy sources, the finance ministry said in a statement on Saturday, presenting the country's new three-year Economic Reform Programme.
The programme also foresees activities for strengthening human capital, improving the competitiveness of domestic enterprises and their integration into global value chains, as well as reducing the informal economy.
The government plans to set up a hybrid investment fund for green and digital startups and innovative small and medium-sized enterprises (SMEs) which is expected to attract 17 million euro ($19 million) of investments by 2023, the statement read.
The priority structural reforms outlined in the programme are expected to help the country meet economic criteria for accession to the EU, the finance ministry said.
The share of renewable energy sources in North Macedonia's gross electricity production was 22.9% in 2019, according to the latest data by the ministry of environment and physical planning.
North Macedonia plans to close down coal-fired power plants REK Bitola and TEC Oslomej by 2030 as part of its strategy to switch to renewable energy sources, daily Sloboden Pechat quoted environment minister Naser Nuredini as saying last week.
($ = 0.8947 euro)