Project Notice
|
| PNR |
47530 |
| Project Name |
ESM Energy Crisis Liquidity Support |
| Project Detail |
Location:
North Macedonia
Project number:
53692
Business sector:
Energy
Notice type:
State
Environmental category:
B
Approval date:
20 Jul 2022
Status:
Concept Reviewed
PSD disclosed:
12 May 2022
Project Description
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.
Project Objectives
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. |
| Funded By |
European Bank for Reconstruction and Development (EBRD) |
| Sector |
Energy & Power |
| Country |
North Macedonia , All Region |
| Project Value |
100 Million |
