Germany will provide support in the amount of EUR 35 million for two energy projects of Macedonian Power Plants (ELEM). EUR 15 million will be used for completion of the Wind Farm Bogdanci, whereas the remaining EUR 20 million for revitalization project of Spilje 2 hydro plant.
Vice Premier and Finance Minister Zoran Stavreski and German Ambassador to Macedonia Gudrun Steinacker signed Thursday an agreement between the Governments of Macedonia and Germany over financial cooperation in "Programme Energy Efficiency and Renewable Energies Stage III", as well as the loan agreement between Germany's KfW bank and ELEM.
"Today's signing of the agreement secures funds required for realization of significant projects in the sector of renewable energy sources, thus getting closer to the objective of 20-percent electricity production from such sources by 2020", said Minister Stavreski after the signing.
He stressed the EUR 15 million for the Bogdanci Wind Farm would complete its construction, whereas the EUR 20 million for Spilje 2 hydro plant would increase its output.
Ambassador Steinacker hoped the realization of the two projects would not represent the end of the bilateral cooperation.
"Today's signing of the agreement secures funds required for realization of significant projects in the sector of renewable energy sources, thus getting closer to the objective of 20-percent electricity production from such sources by 2020", said Minister Stavreski after the signing.
He stressed the EUR 15 million for the Bogdanci Wind Farm would complete its construction, whereas the EUR 20 million for Spilje 2 hydro plant would increase its output.
Ambassador Steinacker hoped the realization of the two projects would not represent the end of the bilateral cooperation.
"I believe these projects will be the start of further cooperation in the energy field between the two countries", added Steinacker.
KfW bank representative Esther Gravenkoetter said the bank has invested EUR 270 million in Macedonia thus far.
"We would like to support Macedonia on its road to the EU and electricity production without greenhouse gas emissions. The Bogdanci Wind Farm will supply more than 20,000 families with pure wind-produced energy in less than two years", she added.
KfW bank representative Esther Gravenkoetter said the bank has invested EUR 270 million in Macedonia thus far.
"We would like to support Macedonia on its road to the EU and electricity production without greenhouse gas emissions. The Bogdanci Wind Farm will supply more than 20,000 families with pure wind-produced energy in less than two years", she added.
ELEM director Dejan Boskovski said the financial framework of the first wind-generated facility for electricity production has been confirmed.
"The windmills are currently in Thessaloniki and their mounting should start by the end of August. If everything goes according to plans, we expect the wind farm to become a part of Macedonia's energy system by the year-end", said Boskovski.
He added the increase of Spilje hydro plant's installed capacity by 70mw would up the share of electricity production from renewable energy sources.
He added the increase of Spilje hydro plant's installed capacity by 70mw would up the share of electricity production from renewable energy sources.
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