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. The project, developed by local company Aksen, includes a 9.2 MW ground-mounted solar plant and a 7.5 MW/9.36 MWh battery energy storage system (BESS).
Kontek Solar Acquisition Powers North Macedonia’s Largest Solar-Plus-Storage Project
The project is located in the village of Kleฤovce, near Kumanovo, and is valued at 9 million euros. The solar plant is expected to generate 12.5 GWh of electricity annually, while the BESS will provide much-needed flexibility and stability to the grid. The project is set to begin commercial operations by the end of 2024.
This is the largest solar-plus-storage project in North Macedonia and one of the first in the region. It is expected 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 Solar Acquisition Marks Entry into North Macedonia’s Energy Sector
Kontek is a leading player in the renewable energy sector in North Macedonia. The company has developed and operates several solar and wind projects in the country. The acquisition of the solar-plus-storage project is part of Kontek’s strategy to expand its presence in the energy sector and invest in new technologies.
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โWe 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.โ said Kontekโs CEO.
How Kontek Solar Acquisition Supports Solar-Plus-Storage Growth in North Macedonia
Solar-plus-storage projects are critical to North Macedonia’s energy transition. The country has set ambitious targets for renewable energy, aiming to generate 38% of its electricity from renewable sources by 2025. Solar-plus-storage projects can help the country achieve this goal by providing a reliable and flexible source of renewable energy.
In addition to supporting the energy transition, solar-plus-storage projects can also help North Macedonia improve its 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 help reduce this reliance by providing a domestic source of clean energy.
The Future of Clean Energy After the Kontek Solar Acquisition in North Macedonia
The acquisition of the solar-plus-storage project by Kontek is a positive development for the energy sector in North Macedonia. It is a sign that the country is attracting investment in renewable energy and that the market for solar-plus-storage projects is growing.
As North Macedonia continues to transition to a clean energy future, solar-plus-storage projects will play an increasingly important 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 Aggrekoโs recent expansion.
The acquisition of the solar-plus-storage project by Kontek is a significant step forward for the energy sector in North Macedonia. It is a sign that the country is on the right track to achieving its renewable energy goals and building a more sustainable future.
