- Published: 18 June 2021 18 June 2021
Financing totaling 51 million euros has been arranged for North Macedonia’s first private wind energy project, “Bogoslovec”. Erste Group arranged and structured the transaction and invited local banks, including Sparkasse Bank Makedonija, to be among the institutions providing financing with a 17-year tenor.
The wind power project, the total cost of which amount to 61 million euros, will be built 80 kilometers southeast of Skopje near the village of Bogoslovec in North Macedonia. The project is scheduled to be completed in early 2023. Siemens Gamesa will manufacture and install eight wind turbines at the site. Propelled by rotors with a diameter of 145 meters at a hub height of 102.5 meters, these turbines will have an aggregate capacity of 36MW once active. A majority (65%) of the shares in the Bogoslovec project is held by BNB Kompani, local family holding that operates five small hydro power plants and has developed the project up to the permitting stage. BNB has teamed up with the 35% minority investor, Green for Growth (GGF).