Envision Energy's Shtip Wind Farm Project in North Macedonia Secures Financing
The 131.25 MW Shtip wind farm project in North Macedonia, a collaboration between Envision Energy and Alcazar Energy Partners, has reached financial close. It is the country's largest wind power project to date.
Envision Energy, a global green technology company, is advancing wind power development in Southeast Europe as the first phase of the 131.25 MW Shtip wind farm in North Macedonia has achieved financial close. Developed by Alcazar Energy Partners (AEP), the project represents the country's largest wind power undertaking so far.
Upon full development, planned in three phases with a total capacity of up to 396 MW, the Shtip project is expected to more than quadruple North Macedonia's installed wind power capacity. This initiative is crucial for the nation's energy transition away from coal towards a sustainable energy system.
Envision Energy is supplying 21 EN182-6.25MW wind turbines for the project. These turbines, featuring a 120-meter hub height, are among the largest onshore wind turbines deployed in Europe, designed for higher energy generation and efficiency.
The project, operated on a fully commercial basis with a long-term power purchase agreement, has secured financing approved by major international financial institutions including the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), and Erste Group Bank AG. This backing underscores the bankability of Envision's technology for large-scale renewable energy investments in the region.