• Wednesday, 03 July 2024

Kovachevski: Energy diversification and transition an investment into the future

Kovachevski: Energy diversification and transition an investment into the future
Skopje, 3 November 2022 (MIA) - The whole region should closely cooperate to meet the ambitious goals for energy transition and to overcome the challenges caused by the economic and energy crisis. The focus should be on jointly seeking alternatives for stable and continuous electricity supply, Prime Minister Dimitar Kovachevski said addressing a session on energy stability and transformation at the Berlin Process Summit taking place in Berlin. Energy security of the Western Balkans is as important as the energy security of the EU, participants in the session concluded, including the Western Balkan leaders. They said they are joining forces to overcome the consequences from the energy crisis noting the EU will be together with the Western Balkan countries in settling all energy crisis-related issues, the government said in a press release. This crisis, Kovachevski said, very quickly pointed out to us the importance for domestic energy production and the need for a backup plan in the future to help us overcome similar situations easily while protecting the environment. He pinpointed his energy transformation concept of implementation of renewable sources, efficient resources as well as competitive and climate neutral practices and standards as being a key part of the vision for the Western Balkans. North Macedonia's green agenda is a key driving force for the country in the context of the energy crisis. In the past several months alone, the largest photovoltaic power plant in North Macedonia was put into operation to produce electricity from domestic resources so as to meet the needs of many households. On one hand, the simplified procedures for installing photovoltaics enable more comprehensive application, while the serious approach to energy investments with a focus on renewable energy sources on the other hand allow the energy transformation across the region, including North Macedonia, to gain traction. North Macedonia is the first country in the Western Balkans that has adopted a strategy for energy development based on the foundations of the EU's Green Deal, noted Kovachevski. "The country has also been one of the first to have launched a project on replacing an old coal-fired power plans in Kichevo's Oslomej with a photovoltaic plant as a concrete step towards North Macedonia's energy transition demonstrating a strong initiative to decarbonize our energy sector," said the PM also mentioning another key project for energy transition - the Chebren hydropower plant on Crna Reka river, estimated at over EUR 800 million. Implementation of the defined plans, he added, requires major support through available grants and affordable loans for the new projects and effective plans for just transition with the best practices available. "Energy transformation into transition of clean energy sources and the creation of a system establishing climate resilient economies is our investment into the future," concluded PM Kovachevski.