EBRD Lends 6.0 Mln Euro for Macedonian Hydropower Project

SKOPJE (Macedonia), April 15 (SeeNews) – The European Bank for Reconstruction and Development said it approved a 6.0 million euro ($8.7 million) loan to Macedonia's PCC Hidro for the construction of four small hydro power plants.

The power plants, located on several rivers in Macedonia, will have a combined capacity of up to 4.1 megawatts (MW), the European Bank for Reconstruction and Development's (EBRD) Skopje office said in a statement on Thursday.

"PCC Hidro’s generating facilities will be connected to the Macedonian distribution grid and the company will benefit fro preferential purchase deals with the Macedonian distribution system operator and special tariff schemes for renewable energy projects," the statement said.

This is EBRD’s second investment in Macedonia's private power generation sector, financed through the Western Balkans Sustainable Energy Direct Financing Facility.

PCC Hidro is a renewable energy firm owned by German company PCC DEG Renewables.

The EBRD has provided nearly 550 million euro so far for over 60 projects in key sectors of Macedonia's economy, mobilising addition investment worth more than 700 million euro.

($=0.6910 euro)

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