North Macedonia: Large energy sector investments by 2027

, SEE Energy News

Investments in several sectors are expected to reach a total of 8.175 billion euros in the 2021-2027 period and out of this amount, some 3.15 billion euros is expected to be invested in the energy sector, with additional 500 million euros in utility infrastructure including environmental protection: waste separation, wastewater processing systems and other projects, said the North Macedonian Government.

Prime Minister Zoran Zaev said that the country expects to attract foreign investments from companies based in Germany, Italy, Canada, Turkey, the United States, Belgium, Switzerland, the Netherlands and Slovenia by 2027. He stressed that the investments in renewable energy in this period would be sufficient for North Macedonia to be able to shut down all coal-fired thermal power plants earlier than many EU member countries and without layoffs. The plan for the economic recovery from the coronavirus pandemic impact mostly matches the course of the European Green Deal and the funds that the EU envisaged for the purpose. The EU is preparing 9 billion euros in support for Western Balkan countries, which supported the EU’s strategy by signing the Sofia Declaration last November.