Alcazar Energy Partners has secured a EUR 180 million loan to finance the first phase of the Štip wind farm project in North Macedonia, which is expected to become the largest in the Western Balkans. The first phase will have a capacity of 131 MW, while the entire project is planned for 396 MW, it was said at a ceremony held at the construction site in Štip.
The financing for the first phase of the Štip (Shtip) wind farm is being provided by the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), and Erste Bank, together with Sparkasse Bank, said Daniel Calderon, Co-founder and Managing Partner of Alcazar, MIA reported.
The EBRD, which is providing EUR 42 million, noted in a press release that Štip is North Macedonia’s first private, utility-scale wind project without state support.
The project is underpinned by a long-term corporate renewable energy agreement with a leading international offtaker, the lender said.
The company’s identity, however, was not disclosed.
The financial close for the first phase marks the start of the next stage of the investment, whose total value is estimated at more than USD 500 million, according to Alcazar’s management, MIA reported.
Calderon: Financing for the remaining phases will be secured soon
Calderon said financing for the remaining phases, in the municipalities of Karbinci and Radoviš, would also be secured soon. The Štip wind farm is planned on the territories of three municipalities – Štip, Karbinci and Radoviš – located southeast of the capital, Skopje.
The first phase, in the municipality of Štip, will have 21 wind turbines, while the entire wind farm will have 54.
Once completed, the wind farm will supply enough electricity for 148,000 households, prevent 570,000 tons of CO2 emissions annually, and create nearly 300 jobs.
The project is expected to be completed within three years, with planned annual electricity generation of 1 TWh. The groundbreaking ceremony was held in July 2025.
The event marking the financial close for the first phase was attended by North Macedonia’s Prime Minister Hristijan Mickoski, Minister of Energy, Mining and Mineral Resources Sanja Božinovska, other government officials, and representatives of the financing institutions.
Prime Minister Mickoski said that “today we can see dozens of construction machines […] the beginning of the installation of production capacities, of windmills.”
More efficient procedures for investors, with environmental responsibility
He stressed that one of the government’s main priorities is to support such greenfield investments, particularly those in which the investor sells all the electricity on the open market.
Mickoski added that “when all this becomes a reality, at the end of the year, North Macedonia will be net energy independent.”
Božinovska: More efficient procedures, but not lower standards
Minister Božinovska stressed that the institutional support for the wind farm reflects the government’s commitment to facilitating renewable energy investments through predictable rules and a long-term development strategy.
“We will push for more efficient procedures, but not lower standards. We will encourage investments, but insist that they be responsible toward land, the environment, and local communities,” she said.
