North Macedonia Project Notice - 47530

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

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