Buyers snapped up 34,000 of the 35,000 wind power guarantees of origin offered at North Macedonia’s first MEMO FiT – Wind auction. The average price was EUR 0.35 per unit.
The first auction for guarantees of origin (GOs) of power generated by privileged producers was conducted by the National Electricity Market Operator (MEMO).
The auction established a new market mechanism for trading this instrument, marking a significant milestone in the development of the national green energy market in line with European standards, according to MEMO.
Greater opportunities for renewable producers to monetize environmental value
In late May 2025, North Macedonia issued its first GOs, for electricity that state-owned power utility Elektrani na Severna Makedonija (ESM) generated in its hydropower plants. Within just two months, 107,666 GOs were issued for eight power plants.
MEMO stressed that the auction represented an important step toward establishing a transparent and competitive market where the value of GOs is determined by supply and demand.
This creates the conditions for a clearer valuation of the environmental component of electricity, offering renewable energy producers greater opportunities to monetize the environmental value of their output, the company added.
Growing importance of GOs amid corporate decarbonization goals
Guarantees of origin are instruments certifying that a specific quantity of electricity was produced from a given energy source.
Their importance is growing, alongside corporate demand to verify the origin of consumed energy, particularly within the context of decarbonization and achieving sustainable business objectives, MEMO pointed out.
Over 850,000 GOs issued to date
Since April 2025, more than 850,000 guarantees of origin have been issued in North Macedonia, underscoring the market’s rapid development and the need for further structuring, MEMO noted.
By holding the first auction, MEMO made a concrete step in implementing the national reform agenda regarding the establishment of a GO trading system.
In May this year, MEMO joined the Association of Issuing Bodies (AIB), a key step toward integration into the European system for issuing, transferring, and recognizing guarantees of origin.
