Germany assists FYR Macedonia hydropower and wind farms development with 60 million EUR loan

Germany has peldged to help the FYR Macedonia energy market through loans signed this week amounting to 60 million which will be placed though KfW bank. The loans will be used to fund rehabilitation of hydropower plants in Globocica, Tikves Vrutok, Raven, and Vrben Shpilje and the rest to build windmills in Bogdanci.

This a step ahead for the Government towards achieving the set targets for increased use of renewable energy sources, improve energy efficiency and reducing dependence on imported electricity energy said FYR Macedonia's Deputy Prime Minister and Finance Minister Zoran Stavreski after signing the agreements. The project for wind envisions a fleet of wind plants which will reach an annual production of 100 gigawatt hours.Bilateral cooperation between Germany and FYR Macedonia aims to improve economic and social development of FYR Macedonia. Today's event is one step in our joint efforts to improve the lives of citizens in FYR Macedonia, said German Ambassador Knotz. 

News source: Balkans.com link: article