Alcazar and IFC reach a funding agreement for a 400 MW wind farm in North Macedonia.

Alcazar Energy Partners (AEP), a renewable energy investor based in Luxembourg, announced on Tuesday that it has entered into a development support agreement with the International Finance Corporation (IFC) for a 400 MW wind farm in North Macedonia.

This agreement provides AEP with access to funding for the initial phase of the Stip wind farm, expected to commence later in 2025. The €500 million ($567.1 million) project will supply electricity to over 100,000 households and help reduce CO2 emissions by up to 690,000 tonnes annually.

The Stip wind farm marks AEP's inaugural project in North Macedonia and fits within its strategy to expand in the Western Balkans, where it has a 1.5 GW portfolio of wind and solar assets aimed at supporting national energy goals and addressing global climate challenges.

In 2023, AEP secured rights for a 119 MW wind farm project in Montenegro, estimated at around $200 million. Last year, the company also agreed to acquire rights for the development, construction, and operation of Project Celzijus 1, a 200 MW onshore wind project east of Belgrade, alongside a 768 MW portfolio of wind and solar projects in Serbia.