The loan is provided to PCC Hydro DOOEL Skopje to finance the development of four small hydroelectric facilities with a total generating capacity of 4.1MW.
The facilities will be interconnected to the Macedonian distribution grid, and the company will benefit from the preferential purchase agreements with the Macedonian transmission system operator and special tariff scheme for renewable energy projects.
The loan is being financed through the Western Balkans sustainable energy direct funding facility.
According to EBRD, the loan is complemented by technical assistance funds provided by the Western Balkans fund, the EBRD shareholder special fund and the Norwegian government.
