The Government of North Macedonia and Kazancı Holding have signed a Memorandum of Understanding (MoU) paving the way for €1 billion worth of investments in the energy sector. The MoU was signed by Prime Minister Hristijan Mickoski and Cemil Kazancı, the President of Turkish company Kazancı Holding.
Back in February, Mickoski announced that the company would invest €1 billion in gas-fired power plants, as well as in the development of gas distribution and district heating networks. He now stated that the signing of the MoU demonstrates the country’s commitment and strategic approach to ensuring energy sovereignty and protecting its economic interests.
Mickoski: We are reducing import dependency and exposure to external price and political risks.
According to the Government, the MoU lays the groundwork for a project that will have a long-term impact on the country’s energy sector. The project includes three main components: the development of new electricity generation capacities, construction of a natural gas distribution network, and implementation of measures to enhance gas supply security, Mickoski explained. The Prime Minister emphasized that having domestic energy sources and a stable distribution system ensures security, predictability, and control over one of the country’s most critical systems.
By developing domestic energy generation, Mickoski said, North Macedonia is reducing its reliance on imports and mitigating exposure to external pricing and political risks.
Cemil: The project is already ready.
Cemil Kazancı pointed out that discussions about the project began some time ago. According to him, the project is already prepared. The next step will involve conducting feasibility studies, followed by implementation of the €1 billion investment. He stated that this will become a strategic energy hub in the Balkans, and expressed confidence that it will be implemented very soon.
The Government has not disclosed details of the MoU signed with the Turkish company, which operates under the Aksa brand in the energy sector.
Previously, Prime Minister Mickoski announced that the plan includes the construction of cogeneration plants with a capacity of 500 MW, expected to generate 4.1 TWh of electricity and 720 GWh of thermal energy annually. The development of a secondary gas and district heating network would enable broader delivery of gas and heat to households.ž
Source: Balkan Green Energy News