North Macedonia is close to deciding to build the Čebren pumped storage hydropower plant on its own, according to Hristijan Mickoski, the Prime Minister of North Macedonia.
The country has been trying to finish the Čebren pumped storage hydropower plant project for many years. The last attempt, which according to some calculations was the 14th, failed in early 2024.
The investment in the power plant is estimated at EUR 1.5 billion, including interest, MIA reported.
The final decision will also depend on meetings within power utility Elektrani na Severna Makedonija
Prime Minister Hristijan Mickoski stressed that they are set to make a strategic decision for the state to implement the project independently, without a private partner. The final decision will also depend on the meetings held within state-owned power company Elektrani na Severna Makedonija (ESM), he added.
Calculations show that the internal rate of return on the investment is greater than 10%, making the project economically viable, in Mickoski’s view.
Apart from the economic importance, the authorities believe that having in mind global warming, the region will lack two reservoirs for drinking water.
The Čebren project could be used to irrigate 60,000 hectares of land in Tikveško polje
It is extremely strategically important for North Macedonia for Tikveško polje to be irrigated by this project, Mickoski pointed out.
There are about 60,000 hectares of land. This area, in his opinion, can also be used for the development of data centers.
The Prime Minister repeated that they are very close to deciding that the state will develop the project itself.
This means preparing a feasibility study and choosing a company according to the FIDIC Yellow Book, Mickoski explained.
Greek companies won the last competition for partners to finish the project
Of note, during the last attempt to find partners for the project, the government selected a Greek consortium, consisting of Public Power Corp. (PPC) and Archirodon. The two companies were supposed to establish a public-private partnership with ESM.
The idea for the Čebren pumped storage hydropower plant dates back to the 1960s. The authorities in North Macedonia considered the energy storage project for 333 MW to 458 MW. Annual output would have been between 1 TWh and 1.2 TWh.
