Skopje, 21 September 2023 (MIA) - Minister of Environment and Physical Planning Kaja Shukova said Thursday that hydropower plant Chebren would have a Greek company as concessionaire and investor in the system. The company must first be issued a water license and then sign a concession agreement.

"Considering the varying media reports, let me clarify that this is a concession not a loan. At the 14th tender for Chebren, we accepted the offer of a Greek company, which met all criteria and got 97 out of 100 points. Therefore, the Greek company will invest in the system, not in the state. Upon the hydro-system's construction, the state will provide its share through the Tikvesh hydro plant, which will be connected to Chebren," Minister Shukova told reporters.

The Tikvesh hydro plant, she added, will be connected to the Chebren hydropower plant and they will operate as a single system.

"The Greek company should first obtain a water license, in line with the Law on Waters, and the concession agreement will be signed afterward. The company will invest, whereas the shares will be distributed as follows - 67 percent for the investor and 33 percent for the state. Upon expiration of the 60-year concession period, the system belongs to the state," said Shukova.

Last week, the Government adopted a decision enabling the realization of the reversible hydropower plant Chebren, one of the largest energy projects in the country. The estimated value of the investment, according to the Government, is around EUR 1 billion, and it foresees the construction of a reversible hydropower plant Chebren, with installed capacity of at least 333 megawatts. As a result, a new artificial lake will be created on Crna Reka, which will be the largest one in the country. Once the design is completed, and the necessary documents are secured, the construction is set to begin and is expected to last seven years.

Photo: MIA archive