The Government of North Macedonia declared a photovoltaic project as a strategic investment. The total investment is estimated at EUR 270 million. Stipion SPP will be developed through Akuo’s local subsidiary Ostro Solar in the eastern part of the country. The power plant is expected to start the production of electricity in 2023 and will be fully completed in 2024.
Paris-based Akuo Energy has 1.3 GW of projects in operation or under construction and additionally over 5 GW of projects under development. The company works quite actively in the Balkan countries having IEL OIE Balkan Renewable Energy as a partner for a 85 MW Bašaid wind farm project near Kikinda in Serbia. The French firm has also an advanced project for the Çiçavica wind farm of 100 MW in Kosovo. Moreover, in 2021 Akuo bought five hydropower plants in Bulgaria with a total capacity of 15.5 MW.
Earlier this year, German developer and operator of wind farms on land and at sea WPD announced its plans to build a EUR 500 million wind farm with a capacity of 415MW in the northeastern part of North Macedonia. The Government of North Macedonia has also given the green light to the Energy Financing Team (EFT) to build an 80 MW solar PV plant. With the government’s decision, the project now qualifies to obtain the bank guarantees necessary for completing the strategic investment procedure established by law.