North Macedonia Štip Phase I 131.25MW Wind Project Completes €115 Million Financing

en.Wedoany.com Reported - On September 10, Alcazar Energy Partners announced the financial close of Phase I of the Štip wind project in North Macedonia. The total investment for Phase I is €180 million, with approximately €115 million in senior debt financing provided jointly by the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), and Erste Group, while Sparkasse Bank AD Skopje is providing a separate local VAT financing arrangement.

Phase I has an installed capacity of 131.25MW and will involve the construction of 21 wind turbines with a unit capacity of 6.25MW each. The project is being developed by STP WIND DOOEL Skopje, a project company wholly owned by Alcazar Energy Partners II. According to EBRD project documents, Phase I also includes a 35/400kV substation and approximately 7 kilometers of 400kV overhead transmission line for connection to the existing transmission network.

Under this financing, EBRD is providing a senior loan of up to €42 million. The project adopts a non-recourse long-term project financing structure and has signed a long-term corporate renewable energy power purchase agreement, with electricity to be sold to an investment-grade international company, without reliance on government power purchase support.

The overall Štip project is planned for development in three phases, with a total installed capacity of up to 396MW, covering the three municipalities of Štip, Radoviš, and Karbinci, and a planned installation of 54 wind turbines. Phase I corresponds to turbines No. 1–21; Phase II is planned to have 17 turbines, and Phase III is planned to have 16 turbines. The three-phase project will also include approximately 68 kilometers of 35kV underground collector lines and will share the 35/400kV substation facilities and high-voltage transmission system.

According to the project's environmental and social documents, the construction period for Phase I is expected to be approximately 24 months, and the entire three-phase project is planned to be fully operational by 2029. IFC approved the project financing in May 2026 and completed the signing of the relevant financing agreements in June. Following the completion of financial close in September, the project financing conditions have entered the implementation stage.

Alcazar Energy previously announced the overall development plan for the Štip wind project in 2024, with an initial estimated total investment of more than US$500 million. In March 2026, the project's environmental and social impact assessment entered the public consultation stage; the completed Phase I financing corresponds to an investment scale of €180 million and is the first independent financing and construction unit within the overall three-phase development.

Once completed, Phase I will add 131.25MW of new wind power installed capacity. Alcazar Energy disclosed that after all three phases are put into operation, the entire Štip wind cluster will reach an installed capacity of up to 396MW.