Skopje, 3 January 2024 (MIA) - A decision on extension of the agreement over the construction of the Chebren hydropower plant did not come by December 31. Therefore, the Ministry of Environment and Physical Planning will notify the Government that the tender has been unsuccessful, said Minister Kaja Shukova on Wednesday.

Minister Shukova said the company has not secured bank funds for the plant's construction, whereas the EUR 1.4 million bank guarantee provided by Greek company "PPC Archirodon" will not be activated.

Back in September, "PPC Archirodon" was selected as the most favorable bidder at the tender for construction of reversible hydropower plant Chebren. Later, the company had objections to the public call and had until the end of 2023 to decide if it would move on with the project.

According to the Government, the estimated value of the investment 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.

The idea and design of the Chebren project dates from the 1960s. This has been the 14th unsuccessful tender over the past 20 years.

Photo: MIA