North Macedonia: Private wind farm project to get a loan from Erste Group

, SEE Energy News

Austrian Erste Group announced that it has arranged a financing package worth 51 million euros for the construction of Bogoslovec wind farm, North Macedonia’s first private wind project.

The statement from Erste Group said that the total debt package includes a junior debt tranche of 10 million euro from the Austrian Development Bank – Oesterreichische Entwicklungsbank AG (OeEB). Local Sparkasse Bank Makedonija is also among the institutions providing financing with a maturity of 17 years.

The wind farm project, worth about 61 million euros, will be built near the village of Bogoslovec. It is expected to be completed in early 2023. Siemens Gamesa will manufacture and install eight wind turbines with total installed capacity of 36 MW. Local hydropower plants operator BNB Kompani holds 65 % stake in the project, while the remaining 35 % is owned by the Green for Growth (GGF) investment fund.

Bogoslovec will be the second wind farm project in North Macedonia after the Bogdanci wind park commissioned by state-owned power utility ESM in 2015.