Alcazar eyes Balkan expansion with 400-MW wind project in N Macedonia

Dubai-based sustainable infrastructure investor Alcazar Energy said today it will pour over USD 500 million (EUR 466m) into a project involving the construction of a 400-MW wind farm in North Macedonia, the largest one in the Balkan country.

The contemplated project will facilitate the UAE group’s goal to develop the largest renewable energy platform in the Western Balkans through an investment of close to USD 1 billion. Alcazar’s plan is to achieve financial close and launch construction in the second half of 2025.

To be located 75 km (46.6 mi) south of Skopje, the wind farm will equipped with more than 50 turbine generators and will produce electricity for over 100,000 homes annually. Once commissioned, it will expand North Macedonia’s installed wind turbine capacity almost fivefold. The construction phase is set to open over 630 job positions.

“Alcazar Energy views North Macedonia as an especially promising investment location, recognizing its significant potential for renewable energy development,” said Daniel Calderon, co-founder and managing partner of Alcazar Energy.

North Macedonia aims to phase out coal-fired power and deploy 1.7 GW of renewable energy capacity by 2030. In addition to supporting that goal, Alcazar said its project will help cut power shortages and facilitate the transport of renewable energy in the Western Balkans and Southeast Europe thanks to North Macedonia’s grid connections with Greece, Bulgaria, Serbia and Kosovo.

(USD 1.0 = EUR 0.932)

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