The Bogoslovec Wind Park was opened at a ceremony on 11 June, attended by the ambassador of the European Union to North Macedonia, David Geer, deputy ambassador of the Federal Republic of Germany, Otto Graf, and representatives of the Green for Growth Fund (GGF).

This €61 million project is the country's first private wind farm and boasts a capacity of 36 MW, capable of powering over 20,000 households annually.

"What is particularly important is that this is a Macedonian investment, Macedonian capital that will remain in the country to create additional value and act as a source for future large investment projects,” said Mihajlo Mihajlovski from THOR Impex, the company that owns the Bogoslovec Wind Park.

"Just as GGF has the opportunity to play a catalytic role as an investor in the realisation of the Bogoslovec Wind Park, the German Government and the European Commission are catalytic investors in the fund itself,” said Borislav Kostadinov, director of the Green for Growth Fund.

The Green for Growth Fund (GGF) is an influential investment vehicle that has been active in the Balkans for 15 years. Supported by the European Investment Bank (EIB) and the German Development Bank (KfW) and backed by the European Commission, GGF finances renewable energy ventures undertaking by MSMEs and households.

Ambassador Geer said: “The Western Balkans has great natural advantages in the field of wind, hydro and solar energy and huge opportunities for private investments, complementing and surpassing the investments from the EU and other partners. What is important is that the authorities and private companies work together and constructively demonstrate that the renewable energy sector makes the most of this potential. This very project demonstrates how this can be done, bringing together local and EU companies and banks. The benefits will be long-term both for the environment and for the citizens.”

The deputy ambassador of Germany, Otto Graf, pointed out that the Bogoslovec Wind Park represents a significant step towards the establishment of renewable energy sources as significant part of the electricity supply in the country.

"This private investment shows that investments in renewable energy sources are not always made possible only by public finance and state support, but also as private initiatives and businesses, and we consider this project to be a huge step towards renewable energy sources becoming a huge part of the electricity supply in North Macedonia."

Bogoslovec is set to significantly improve North Macedonia's renewable energy capacity, aligning with the country's goal of increasing renewable energy by 50% by 2030.

The Bogoslovec Wind Park, a project worth a total of 61 million euros, was built 80 kilometres southeast of Skopje, near the village of Bogoslovec. Construction began in 2021 and eight wind turbines have since been installed at the site.