Envision Energy's North Macedonia Wind Project Secures Financing
The first phase of Envision Energy's Štip wind farm in North Macedonia has secured final financing. The project represents the country's largest wind power undertaking to date.
Envision Energy has finalized financing for the initial phase of its Štip wind farm in North Macedonia. The 131.25 MW wind farm is the country's largest wind power project to date, according to the company.
The Štip wind farm is planned in three phases, aiming for a total capacity of up to 396 MW. Upon completion, it is expected to more than quadruple North Macedonia's current installed wind power capacity, supporting the nation's transition from coal to a more sustainable energy system.
Envision Energy is supplying 21 EN182 wind turbines, each with a 6.25 MW capacity. These turbines, featuring a 120-meter hub height, are among the largest onshore wind turbines in Europe. The project will operate under a long-term power purchase agreement with an investment-grade international corporation, focusing on private sector demand.
Financing for the project involves significant international financial institutions, including the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), and Erste Group Bank. This backing underscores the financability of Envision's technology and solidifies its role in Europe's renewable energy sector.