EBRD lending 25 mln euro to N. Macedonia's ESM to build 30 MW solar parks

The European Bank for Reconstruction and Development (EBRD) said it is providing a loan of 25 million euro ($26.1 million) to North Macedonia's electricity producer ESM for the construction of two photovoltaic (PV) plants with a combined capacity of 30 MW.

ESM will build a 10 MW solar power plant on a portion of an exhausted coal mine of the Oslomej thermal power plant as well as a 20 MW PV plant adjacent to the Bitola thermal power plant, the EBRD said in a press release on Friday.

Furthermore, the projects will benefit from a 5 million euro grant funded by the European Union (EU) through the Western Balkans Investment Framework (WBIF), the lender said.

The new solar plants are an extension to the first 10 MW PV plant constructed on the exhausted coal mines in Oslomej. Once operational, the new photovoltaic plants will generate nearly 48 GWh of electricity a year, which would cover the electricity needs of 10,000 homes.

ESM, fully owned by North Macedonia's government, provides approximately 90% of domestic electricity production.

($ = 0.9591 euro)

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