North Macedonia's government on June 25 formally announced a $500 million project with investor Alcazar Energy Partners to build the largest wind farm in the country.
The project will significantly boost energy independence and foreign investment and will be the largest investment in renewable energy sources in North Macedonia, Prime Minister Hristijan Mickoski said.
The wind farm will be located in the country's southeast, with a capacity to generate up to 400 megawatts of renewable energy.
Construction on a total of 55 wind turbines is expected to begin in the second half of 2025, representatives of the company said on June 25 in Skopje. The first electricity is expected to be produced in the second half of 2027.
Once operational, the wind farm is scheduled to produce enough energy to power more than 100,000 households annually, while avoiding the release of more than 670,000 tons of carbon dioxide per year.
Alcazar Energy Partners said in a statement that grid connections with Greece, Bulgaria, Serbia, and Kosovo, will help reduce energy shortages and support the transition to renewable energy in the Western Balkans.
Company managing partner Daniel Calderon said Alcazar Energy "sees North Macedonia as a promising investment location for renewable energy."
The firm, which focuses on renewable energy projects in emerging markets, is headquartered in Luxembourg and has an advisory team based in Dubai.
In its portfolio, Alcazar Energy lists five solar photovoltaic plants and two wind farms in Jordan and Egypt. It began a wind-park project in Montenegro in September, according to its website.
Mickoski leads a new right-wing government that had its first working day on June 24. Mickoski promised a "furious start to projects," including the promotion of new investments, after his government was approved on June 23.