Can North Macedonia develop solar energy?

The potential for solar energy development in North Macedonia is vast. With estimates suggesting that the country could harness up to 11 GW of solar PV capacity, there is significant room for growth.

Which energy sources are used in North Macedonia?

At the moment, most of the electricity in North Macedonia is produced from thermal power plants with coal as the primary energy source. The share of the renewable energy sources in the total installed capacity in North Macedonia is 38%, with most of the renewable energy coming from large hydro powerplants.

Does North Macedonia need electricity?

Although North Macedonia’s renewable energy potential is huge (especially solar), the country is still dependent on importing electricity –imported electricity constitutes around 30% of the overall gross consumption.

What are the opportunities for new investors in North Macedonia?

1. Introduction The renewables sector is one of the strategic areas of North Macedonia’s economy, and renewable energy projects are among the most popular opportunities for new investors. At the moment, most of the electricity in North Macedonia is produced from thermal power plants with coal as the primary energy source.

How much solar power does Macedonia have in 2022?

By the end of 2022, the country had reached a photovoltaic capacity of approximately 144 MW, with projections indicating rapid growth in the coming years. In 2023 alone, North Macedonia saw an impressive increase in solar capacity, with new installations contributing to a total increase of 251% compared to the previous year.

How many energy licenses will Macedonia have in 2023?

Additionally, the Macedonian Regulatory Commission for Energy (“RKE”) has already announced that it issued 278 licenses for only six months in 2023, which is more than in the whole 2022. If all the issued energy licenses result in operational power plants, that would amount to 270MW of newly installed capacity.