Short description of the overall project

In April 2021, OeEB provided EUR 10.04 million for the construction and operation of a 36MW wind farm near the village of Bogoslovec in North Macedonia.

Short description of activities financed by the donation

The 36 MW wind farm co-financed by OeEB, which will be built 50 kilometers south-east of Skopje near the village of Bogoslovec, supports this goal. When completed, the eight wind turbines should generate enough clean electricity for more than 15,000 households and save 80,000 tons of CO2 emissions per year. As the first private wind farm and only the second wind project in the country, it should also serve as a lighthouse project and play a pioneering role for other private renewable energy projects.

For the construction and operation of the project, OeEB is providing EUR 10 million as part of a credit facility arranged by Erste Group totaling EUR 51 million. In addition to OeEB and Erste, Sparkasse Bank Makedonija AD Skopje, Komercijalna Banka AD Skopje and NLB Banka AD Skopje are involved in the financing. The Green for Growth Fund, in which OeEB holds shares, also brings additional equity into the project company.