Alcazar Energy Partners (AEP), an independent infrastructure fund manager focused on investing in and developing utility-scale renewable-energy projects in growth markets, has achieved the financial close of the 131-megawatt Štip Wind Farm, the largest wind project ever developed in North Macedonia.
AEP secured a senior debt financing package of more than €115 million ($133 million) from the European Bank for Reconstruction and Development; the International Finance Corp., the private sector arm of the World Bank Group; and Erste Group Bank with a separate local value-added tax facility provided by Sparkasse Bank AD Skopje.
Štip Wind Farm represents a total investment of €180 million ($209 million), and as a significant milestone for renewable-energy financing in the Western Balkans, demonstrates strong institutional confidence in North Macedonia’s energy sector and its trajectory towards E.U. integration.
The wind farm has a long-term offtake agreement
