Consolidated Edison Solutions, Inc., a subsidiary of Con Edison Clean Energy Business, has acquired an 85% stake in a solar-plus-storage project in North Macedonia, marking its first venture into the country’s energy sector. Developed by local company Aksen, the project includes a 9.2 MW ground-mounted solar plant and a 7.5 MW/9.36 MWh battery energy storage system (BESS).
Acquisition Powers North Macedonia’s Largest Solar-Plus-Storage Project
The project, located in the village of KleÄŤovce, near Kumanovo, is valued at 9 million euros. Its solar plant is expected to generate 12.5 GWh of electricity annually, while the BESS will provide crucial flexibility and stability to the grid. The project is set to begin commercial operations by the end of 2024.
As the largest solar-plus-storage project in North Macedonia and one of the first in the region, it is poised to play a key role in supporting the country’s energy transition and reducing its reliance on fossil fuels. For more insights on North Macedonia’s renewable landscape, check out this report.
Kontek’s Expanding Role in North Macedonia’s Energy Sector
Kontek is a leading player in the renewable energy sector in North Macedonia, having already developed and operated several solar and wind projects in the country. This acquisition aligns with Kontek’s strategy to expand its presence in the energy sector and invest in new technologies.
“We are pleased to announce our entry into the energy sector. This is an important milestone for our company and a reflection of our commitment to investing in new technologies and expanding our presence in the energy sector. The acquisition of the solar-plus-storage project is a significant step forward for us, and we look forward to contributing to the development of the energy market in North Macedonia.” said Kontek’s CEO.
How Solar-Plus-Storage Supports Growth in North Macedonia
Solar-plus-storage projects are critical to North Macedonia’s energy transition. The country has set an ambitious target to generate 38% of its electricity from renewable sources by 2025, and these projects are essential to achieving that goal by providing a reliable and flexible source of renewable energy.
In addition to supporting the energy transition, these projects also help improve North Macedonia’s energy security. The country is currently heavily reliant on imported fossil fuels, which makes it vulnerable to price fluctuations and supply disruptions. Solar-plus-storage projects can reduce this reliance by providing a domestic source of clean energy.
The Future of Clean Energy in North Macedonia
The acquisition of the solar-plus-storage project by Kontek is a positive development for the energy sector in North Macedonia. This move signals that the country is attracting investment in renewable energy and that the market for these projects is growing.
As North Macedonia continues its transition to a clean energy future, solar-plus-storage projects will play an increasingly vital role. These projects can help the country achieve its renewable energy targets, improve its energy security, and reduce its reliance on fossil fuels. For further reading on similar advancements, explore Aggreko’s recent expansion.
