The European Bank for Reconstruction and Development (EBRD) is considering a significant financial commitment to a renewable energy initiative in eastern North Macedonia. The proposal under review involves a long-term senior loan aimed at facilitating the establishment of a 131 MW wind facility, which represents a critical step in the country’s transition towards sustainable energy sources.
The project is spearheaded by STP Wind, a special purpose vehicle formed by Alcazar Energy Partners, an investment firm focused on renewable energy based in the United Arab Emirates. This collaboration underscores the increasing interest of international investors in North Macedonia’s energy landscape.
Documentation from the EBRD indicates that the financing arrangement will be structured as a non-recourse loan, specifically targeting the initial phase of the Stip wind complex. This development is envisioned as a multi-phase project with an ultimate capacity of approximately 400 MW. The construction will span multiple municipalities, including Stip, Radovis, and Karbinci, and will feature up to 54 turbines, each with capacities between 6 MW and 8 MW. Additionally, the project encompasses essential infrastructure such as substations, internal access roads, and a transmission line that will link the facility to the national electricity grid.
Alcazar Energy Partners commenced development activities in July 2025, forecasting that the entire wind complex could necessitate an investment of around 430 million euros. Upon completion, it is anticipated to become the largest wind power installation in the Western Balkans region, marking a significant milestone for renewable energy in this part of Europe.
The initial phase of 131 MW is poised to enhance North Macedonia’s renewable generation capacity as the nation gradually moves away from coal-fired electricity production. This transition aligns with broader regional efforts to integrate clean energy into national electricity systems. The EBRD’s board is set to evaluate the proposed financing on April 29; however, specific details regarding the loan amount have yet to be disclosed.
