EBRD supports construction of large-scale solar power plant in Macedonia
Post date: 06/01/2019 - 11:08
The European Bank for Reconstruction and Development (EBRD) is lending €5.9 million ($6.7 million) million to ELEM, the Macedonian state-owned electricity company, to build the first large-scale solar power plant on the site of an exhausted lignite coal mine. The company will meet the rest of the total costs estimated at €8.7 million ($9.9 million). The new solar plant is ELEM’s first and will be the largest in the country. Once operational it will produce nearly 15 GWh annually. The country aims to source 23 percent of its electricity from renewable sources by 2020.
ELEM provides 90 per cent of the country’s domestic electricity production – about 3,600 GWh from two thermal power plants and 1,250 GWh from eight hydropower plants. The new solar project will diversify the production mix of ELEM from coal and increase the share of renewables. Further support for decarbonisation and renewable energy targets comes in the shape of EBRD technical assistance in designing competitive renewable tenders for 200 MW of solar capacity and 150 MW of wind power capacity.