North Macedonia is targeting a 2027 construction start for the long-planned Čebren and Galište hydropower projects, reviving a combined investment of up to €1.5 billion after repeated failed concession attempts.
Čebren is planned at around 333 MW, while Galište would add about 193.5 MW.
The government says international financial institutions have shown interest in supporting the scheme, but no binding lender commitment or financial close has yet been announced.
That distinction is important.
The projects have been discussed for years and previous private concession models failed to reach implementation.
The latest strategy increasingly points towards a state-led structure with institutional financing.
If built, the two plants would materially strengthen North Macedonia’s domestic generation and flexibility.
Large hydro assets could provide balancing, reserves and peak power as the country adds wind, solar and battery storage while reducing reliance on lignite.
The economics are nevertheless challenging.
At up to €1.5 billion, the projects would require substantial long-term debt and a clear revenue framework capable of supporting construction and operating risk.
Environmental permitting and water management will also remain major issues.
The new 2027 target therefore should be treated as an execution objective rather than a banked timetable.
The next decisive milestone will be financing.
Until then, Čebren and Galište remain among the region’s most strategically important – and repeatedly delayed – hydro ambitions.
