French Akuo to build 350-400 MW solar farm in North Macedonia
Date: November 25th 2021
Author: Peter Palčec
Akuo, a French renewable energy power producer and developer, will develop a 350 to 400 MW solar farm in North Macedonia, said the country’s government on Tuesday.The government announced this after its session at which it granted the EUR 270m solar project the status of strategic investment.
The Stipion solar project will be developed through Akuo’s Macedonian subsidiary Ostro Solar near the town of Stip in the eastern part of the country. The project should be finished by the end of 2024, although the first volumes of electricity could be produced in 2023.
North Macedonia’s strategic investments law, which was passed last year, grants preferential terms to projects considered to be of strategic interest to the country, such as public-private partnerships (PPPs) and concessions.
The law on strategic investments has already attracted interest from various investors to develop around 1,500 MW of solar and 550 MW of wind capacity in North Macedonia, said now former prime minister Zoran Zaev back in September.
Akuo is also implementing the 100 MW Cicavica wind farm project in Kosovo and the company bought five hydro power plants in Bulgaria with a total capacity of 15.5 MW back in April.