April 5, 2025

Kontek Solar Acquisition: 85% Stake in North Macedonia’s Stunning Project

In a significant move for North Macedonia’s renewable energy sector, Turkey-based Kontek Kontrol Teknolojileri ve Otomasyon has moved to acquire a controlling 85% stake in a massive solar power initiative. The project is being developed by Asi Trade-M, a company headquartered in Skopje, marking a major foreign investment in the nation’s green energy infrastructure.

Kontek Solar Acquisition: 85% Stake in North Macedonia’s Stunning Project

The venture centers on the development of a formidable 111 MW photovoltaic plant located in the village of Tolovo, within the Probištip municipality. This facility represents a substantial addition to the country’s clean energy portfolio. According to reports, the project was already under construction at the time of the announcement, with the commencement of electricity production and sales anticipated in the near future. The scale of this plant positions it as a key contributor to North Macedonia’s energy transition.

Strategic Investment Bolsters Regional Green Energy

Kontek’s acquisition underscores the growing investor confidence in the Balkan renewable energy market. By securing a majority share in the Asi Trade-M project, the Turkish technology and automation firm is establishing a strong foothold in the region. This infusion of capital and expertise is expected to accelerate the project’s completion and integration into the national grid. The development aligns with broader trends in the country’s energy landscape, which are further detailed in this analysis of North Macedonia’s solar sector.

Paving the Way for a Sustainable Energy Future

This 111 MW solar project is set to play a pivotal role in helping North Macedonia achieve its renewable energy targets and reduce its carbon footprint. Large-scale photovoltaic installations are critical for diversifying the energy mix and enhancing national energy security. The successful development and operation of the Tolovo plant will serve as a powerful signal of the country’s commitment to a sustainable future and its attractiveness for further green investments.

Sources

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Kontek Solar Acquisition: 85% Stake in North Macedonia’s Stunning Project