A Hungarian company could play a key role in energy development projects in North Macedonia

A Hungarian-owned company has become involved in the further development of North Macedonia’s energy system.

Status Energy Skopje d.o.o., which is part of Mészáros Csoport, has entered into an agreement with the state-owned company ESM – Elektrani na Severna Makedonija, which is North Macedonia’s largest electricity generator.

The express purpose of the agreement signed on 7 July is to prepare for investments which

• support the region’s decarbonisation efforts,
• improve the security of energy supply,
• and, in the long term, they will enable the gradual replacement of existing power stations – which are currently inefficient and cause significant environmental impact – with more modern technologies.

The synergy between international experience and knowledge of the local market could provide a boost to development

The cooperation agreement sets out the framework for joint project development; the scope and funding structure of the projects will be finalised during the next phase of joint technical work, according to press release Mészáros Csoport.

Tamás Németh, Managing Director of Status Energy Skopje d.o.o., emphasised that, for them, this collaboration represents not merely the signing of an agreement, but also the start of a long-term strategic partnership.

„We are convinced that by combining professional expertise, international project development experience and knowledge of the local market, we can realise investments that contribute to strengthening the security of energy supply, developing modern energy infrastructure and promoting sustainable energy generation”

– said the managing director.

This is what the Macedonian state-owned company’s strategy is all about

According to data available on the internet, the primary function of ESM – Elektrani na Severna Makedonija is the generation of electricity: it accounts for more than half of the country’s electricity generation.

Its mixed generation portfolio includes thermal and hydroelectric power stations, whilst it is also placing increasing emphasis on the development of solar and wind power stations and energy storage projects.

In recent years, the ESM’s strategic objectives have included, amongst other things, the gradual phasing out of lignite-fired generation; the construction of high-efficiency natural gas-fired combined-cycle power stations; and a significant expansion of renewable energy capacity. As part of this strategy, ESM has concluded cooperation agreements with several international partners to prepare for new power station investments, including with the Hungarian-owned company.