Alcazar Energy Partners has initiated North Macedonia's largest wind farm project, committing a substantial $500 million in debt and equity investments. Situated 75 kilometers south of Skopje, the Shtip project represents a cornerstone of the country's efforts, outlined during the COP28 climate talks, to shift away from coal-fired power generation.
Scheduled to commence construction in early 2026, the project aims to deliver a nearly fivefold increase in North Macedonia's installed wind capacity. It is projected to supply renewable energy equivalent to powering over 100,000 homes annually, while mitigating approximately 670,000 tons of carbon emissions per year.
Daniel Calderon, co-founder of Alcazar Energy Partners, emphasized the appeal of North Macedonia as an investment destination for renewable energy, citing its substantial potential for development in this sector.
Given its strategic location and grid connections with Greece, Bulgaria, Serbia, and Kosovo, the Shtip project is expected to contribute significantly to regional energy stability and facilitate the broader transition towards sustainable energy sources.
Funding for the project will be overseen by Alcazar, which recently secured $490 million through Alcazar Energy Partners II, with support from entities including the U.S. International Development Finance Corporation and other public and private investors.
“This project is of great significance to Europe, given North Macedonia's extensive grid interconnections with its neighbours,” commented Hristijan Mickoski, Prime Minister of North Macedonia. “It will supply much-needed clean and affordable energy at a crucial time when the continent is striving to reduce its dependence on fossil fuels.”
