Erste Group arranges 51 mln euro financing for Bogoslovec wind park in N. Macedonia

Author: Georgi Georgiev. License: All rights reserved.

SKOPJE (North Macedonia), June 18 (SeeNews) - Austria's Erste Group said on Friday it has arranged and structured a 51 million euro ($60.7 million) financing package for the construction of North Macedonia's first private wind energy project Bogoslovec.

The total debt package includes a junior debt tranche of 10 million euro from Oesterreichische Entwicklungsbank AG (OeEB), Austria's development bank, Erste Group said in a statement.

Local Sparkasse Bank Makedonija is also among the institutions providing financing with a tenor of 17 years.

The wind power project, worth about 61 million euros, will be built near the village of Bogoslovec. It is expected to be completed in early 2023.

Siemens Gamesa will manufacture and install eight wind turbines with an aggregate capacity of 36 MW at the site.

Bogoslovec will be the second wind park project in North Macedonia after the Bogdanci wind park commissioned by state utility ESM in 2015.

Local hydro power plants operator BNB Kompani owns 65% of the project, whereas the remaining 35% belongs to the Green for Growth (GGF) investment fund.

($ = 0.8398 euro)

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