||ESM Energy Crisis Liquidity Support
20 Jul 2022
12 May 2022
Up to EUR 100m sovereign Guaranteed loan in favor of JSC Elektrani na Severna Makedonija ("ESM", "Borrower" or the "Company") to support the Companys liquidity needs in the midst of the energy crises affecting North Macedonia.
The proposed loan addresses an emergency liquidity gap, by providing financial support to ESM and policy dialogue to the Energy Sector to address structural issues in the local energy market. It provides vital liquidity support to continue to endorse ESMs decarbonisation strategy following the successful commissioning of its first solar plant Oslomej ("Oslomej", DTM 50415) with a capacity of 10MW and the upcoming signing of an additional 30MW solar PV plant in Oslomej (10MW extension) and Bitola (20MW) (DTM 52320). Successful RES deployment will be key in helping the country meet its sustainability and energy security targets.
||European Bank for Reconstruction and Development (EBRD)
||Energy & Power
||North Macedonia , All Region