Shtip wind farm : Alcazar Energy to invest over $500m in North Macedonia’s largest wind project

In a significant boost to renewable energy development in the Western Balkans, Alcazar Energy Partners has unveiled plans for Shtip wind farm, the largest wind farm project in North Macedonia, with an impressive capacity of up to 400 MW. This landmark initiative is poised to transform the renewable energy landscape in the region, positioning North Macedonia as a key player in sustainable energy production.

The Shtip wind farm project represents an investment exceeding USD $500 million, marking the most substantial financial commitment to renewable infrastructure in North Macedonia to date. Located 75 km south of Skopje, the project will quintuple the country’s installed wind capacity once operational. The completion of financial arrangements is slated for Q4 2025, with construction expected to commence in early 2026.

The Shtip wind project is set to play a crucial role in supporting North Macedonia’s Just Transition Investment Platform, which was highlighted at COP28. It aims to significantly cut the nation’s greenhouse gas emissions, contributing to broader climate goals. Furthermore, the construction phase is expected to generate over 630 jobs, providing a substantial boost to local employment. Once operational, the Shtip wind farm will supply clean energy sufficient to power over 100,000 households annually while preventing the emission of more than 670,000 tons of CO2-equivalent each year.

This initiative marks Alcazar Energy’s second major project in its mission to establish the largest renewable energy platform in the Western Balkans. With an anticipated regional investment nearing USD $1.0 billion, the project will not only enhance North Macedonia’s energy mix but also fortify energy security across the Western Balkans. Thanks to grid connections with neighboring countries like Greece, Bulgaria, Serbia, and Kosovo, the Shtip wind farm is strategically positioned to alleviate energy shortages and propel the shift toward renewable sources throughout Southeast Europe.

Daniel Calderon, Co-Founder and Managing Partner of Alcazar Energy, expressed enthusiasm about the project’s potential. “We are thrilled to launch a major wind farm project in the Western Balkans, providing North Macedonia with clean, affordable electricity and creating local jobs,” said Calderon. He emphasized the strategic importance of North Macedonia as a burgeoning hub for renewable investments and Alcazar Energy’s commitment to sustainable development principles.

Prime Minister of North Macedonia, Hristijan Mickoski, also highlighted the transformative nature of this investment. “This is the largest investment in renewable energy sources that North Macedonia has ever seen,” Mickoski stated. He noted the government’s aim to achieve energy independence and leverage the country’s strategic location and grid connectivity to support both domestic needs and energy exports.