EBRD financing 25 mln euro to N. Macedonia's ESM to build 30 MW solar parks

• The European Bank for Reconstruction and also Development (EBRD) claimed it is providing a funding of 25 million euro ($26.1 million) to North Macedonia's electrical energy producer ESM for the construction of 2 photovoltaic or pv (PV) plants with a combined capacity of 30 MW.

ESM will certainly build a 10 MW solar power plant on a portion of a worn down coal mine of the Oslomej thermal nuclear power plant as well as a 20 MW PV plant adjacent to the Bitola thermal power plant, the EBRD claimed in a press release on Friday.

Moreover, the projects will benefit from a 5 million euro grant moneyed by the European Union (EU) via the Western Balkans Investment Structure (WBIF), the lender claimed.

The new solar plants are an extension to the initial 10 MW PV plant built on the exhausted coal mines in Oslomej. As soon as operational, the new photovoltaic plants will generate almost 48 GWh of power a year, which would cover the power requirements of 10,000 houses.

ESM, totally possessed by North Macedonia's federal government, gives roughly 90% of residential power manufacturing.