EBRD boost for decarbonisation in Macedonia

The bank is lending €5.9m to Macedonian state-owned electricity company ELEM

Photo: ELEM

Macedonian plans to move decisively forward with decarbonisation have received a boost in the form of a 5.9 million-euro loan from the European Bank for Reconstruction and Development (EBRD) to ELEM, the state-owned electricity company. The loan is intended to fund the country’s first large-scale solar power plant built on the site of an exhausted lignite coal mine in the town of Kicevo, 112 kilometres from the capital Skopje and is part of FYROM's goal to generate 23 percent of its electricity from renewable sources by 2020.

"This project will help the country reduce its reliance on ageing lignite-fired infrastructure and also help the local community in the Kicevo municipality, traditionally reliant on lignite mining and generation, to develop more sustainable practices," the EBRD said, adding that ELEM will meet the rest of the total cost, estimated at €8.7m.

ELEM provides 90% of the country’s domestic electricity production – about 3,600 GWh from two thermal power plants and 1,250 GWh from eight hydro power plants. The company also operates two combined heat and power facilities and the first wind farm in the country, which produce about 100 GWh per year. Once operational, the new solar plant would become company’s first and will be the largest in Macedonia. Furthermore, it will produce nearly 15 GWh a year of electricity and displace 12,177 tonnes of carbon dioxide a year.

Similar articles

  • EU's Sefcovic says Russia-Ukraine gas deal possible by end of 2019

    EU's Sefcovic says Russia-Ukraine gas deal possible by end of 2019


    Ukraine and Russia should be able to reach an agreement by the end of 2019 on the transportation of natural gas to the European Union, European Commission Vice President Maros Sefcovic said in Brussels on 21 January after chairing a meeting with Russian and Ukrainian officials.The talks were attended by Russian Energy Minister Aleksandr Novak, Ukrainian Foreign Minister Pavlo Klimkin, and executives from Ukrainian state energy company Naftogaz and Russian gas giant Gazprom.

  • Oil kicks off 2019 with losses

    Oil kicks off 2019 with losses

    The outlook for 2019 is riddled with uncertainty also due to US-China trade concerns, Brexit

    Oil markets dropped by around 1 percent in 2019’s first trading on Wednesday, pulled down by surging US output and concerns about an economic slowdown in 2019 as factory activity in China, the world’s biggest oil importer, contracted. International Brent crude futures LCOc1 were at $53.19 per barrel at 0544 GMT, down 61 cents, or 1.1 percent, from their final close of 2018.

  • Oil cartel works to cut output

    Oil cartel works to cut output

    The global oil cartel, OPEC, and its allies are working toward a deal to further reduce oil output and raise prices, which has seriously fallen in the last week. According to sources close to the talks, the oil-producing nations eye cutting output by at least 1.3 million barrels per day, but need to convince Russia to join the measure.