Mali Hidro Elektrani Receives Finance for Development of Hydro Power Plants

The EBRD (European Bank for Reconstruction and Development) announced that it has provided a loan of EUR 6 million to Mali Hidro Elektrani in support of the participation of the private sector in the Macedonian power generation industry.

The loan is provided to Mali Hidro Elektrani to finance the seven hydro power plants to be developed in the country.

The hydro power plants are situated on seven various rivers across Macedonia, with a total capacity of 5.83 MW. These plants will generate about 21.630 MWh of electricity every year. The project is expected to reduce about 14,000 tonnes of carbon dioxide annually. The generating facilities of Mali Hidro Elektrani will be interconnected to the distribution grid of Macedonia, while the company will benefit from the special tariff scheme for clean energy projects and the preferential purchase deals entered with the Macedonian Transmission System Operator.

The EBRD’s investment is being financed by means of the Western Balkans Sustainable Energy Direct Funding Facility. The project is also being provided with technical assistance funds by the EBRD Shareholders Special Fund, the Norwegian government, and the Western Balkans Fund. After the project is completed, Mali Hidro Elektrani will be eligible to get incentive for the reduction of carbon dioxide emissions.