Alcazar Energy Partners (AEP) infrastructure fund manager, has received development support from the International Finance Corporation (IFC), a member of the World Bank Group, for Phase I of the Štip Wind Farm, the largest wind power project in North Macedonia.
The total installed capacity will reach approximately 400 megawatts (MW) upon completion of all phases, providing electricity to over 100,000 households and reducing carbon emissions by 690,000 tons of CO2 equivalent annually. The total investment for the project is estimated at 500 million euros, with Phase I expected to begin later this year.
AEP is currently working on the project design with the help of engineering, environmental, legal, and social advisors.
The Štip Wind Farm is the company’s first project in North Macedonia and reflects the fund manager’s strategy to expand its presence in the Western Balkans, where it has already acquired a 1.5-gigawatt (GW) pipeline of greenfield onshore wind and solar assets.
“Our continued partnership with IFC is instrumental as we progress with the Štip Wind Farm,” said Daniel Calderon, Co-Founder and Managing Partner of Alcazar Energy Partners. “Together, we’re not only advancing the energy transition but also supporting economic development and long-term energy security.”
“IFC and Alcazar Energy Partners have built a strategic partnership over more than a decade, working together to advance sustainable energy projects across emerging markets,” added Patrick Avato, IFC’s Manager for Infrastructure and Energy in Europe. “The Štip Wind Farm in North Macedonia is a natural extension of this collaboration, aimed at expanding access to affordable, clean energy, essential for economic competitiveness and growth.”