Commencement of the preparation of the first Feasibility Study for Floating PV Project in North Macedonia

On February 27, 2025, COLENCO, in Consortium with Dornier Suntrace GmbH, signed a Consultancy Contract with the European Bank for Reconstruction and Development (EBRD) to conduct a Feasibility Study for the Macedonian Power Plants JSC (ESM) Floating PV Project in North Macedonia. The project, foreseen on the surface of the Shpilje Hydro Power Plant reservoir, will explore the implementation of up to 50 MW of floating photovoltaic capacity. This initiative forms a central part of ESM’s strategy to diversify Macedonia’s energy mix by increasing renewable generation and reducing reliance on coal. The Feasibility Study will provide the technical, economic, financial, legal, and implementation assessments necessary for management and Government approval.

As part of the study, the Consultant will perform site suitability assessment, solar resource and energy yield evaluation, preliminary project design and integration analysis with the existing Hydro Power Plant to optimize operational benefits, including potential reduction of evaporation. The team will also conduct a detailed grid connection review and analysis, assess permitting and regulatory requirements, and develop a robust economic and financial evaluation. Coordination with environmental and social consultants will ensure compliance with ESIA requirements and EBRD’s health, safety, and sustainability standards.

Through this engagement, COLENCO, together with its partners, aims to deliver actionable recommendations and a clear roadmap for the successful implementation of the first Macedonian floating PV project. By combining cutting-edge floating solar technology with careful planning and environmental stewardship, the ESM Floating PV Project will contribute to a more sustainable and renewable energy future for the country.