EBRD lending EUR 25 mln to N. Macedonia’s ESM for solar parks

The EBRD's 2011 Annual Meeting in Astana, Kazakhstan, 20-21 May 2011

The European Bank for Reconstruction and Development said it is providing a loan of EUR 25 million (USD 26.1 million) to the North Macedonian government-owned electricity producer ESM for the construction of two photovoltaic (PV) plants with a combined capacity of 30 megawatt (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.

Furthermore, the projects will benefit from a EUR 5 million grant funded by the European Union 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 (gigawatt-hour) of electricity a year, which would cover the electricity needs of 10,000 homes.

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