Alcazar Energy Partners has unveiled a $500m investment for a 400MW wind farm project in North Macedonia.
The scheme represents a key step in the company’s goal to develop the largest renewable energy platform in the Western Balkans. Financial close and start of construction is expected to occur during the second half of 2025.
The 50-turbine wind farm will increase North Macedonia’s installed wind capacity fivefold once fully operational.
Alcazar Energy co-founder and managing partner Daniel Calderon said: “We are thrilled to launch one of the most significant wind farm projects in the Western Balkans.
“This initiative will provide North Macedonia with much-needed clean and affordable electricity and create lasting local jobs.
“Alcazar Energy views North Macedonia as an especially promising investment location, recognizing its significant potential for renewable energy development.
“We look forward to collaborating with the government and local stakeholders as we build the country’s largest wind farm, significantly increasing its installed wind capacity.
“We build sustainable infrastructure where it is needed most – in growth markets – while generating infrastructure returns to investors.
“Our success in renewable energy project development and dedication to ESG principles highlight our capability and commitment in these key regions.”
The project is 75km south of Skopje and it is estimated it will create more than 630 construction jobs.
North Macedonian Prime Minister Hristijan Mickoski said: “We are standing ahead of the largest investment in renewable energy sources that we ever had.
“This investment marks the beginning of the government’s policy to create energy independence for Macedonia.
“The area where the wind farm is to be built is located between three municipalities, Karbinci, Radovish and Shtip, where the potential for this type of investment is great.”
Due to North Macedonia’s grid connections with Greece, Bulgaria, Serbia and Kosovo, the project will help to both reduce energy shortages and support the transition to renewable energy in the Western Balkans and south-east Europe.