Skopje, 9 June 2026 (MIA) - The government is close to deciding that the state to independently construct the Chebren and Galishte hydroenergy project, with an estimated investment of up to €1.5 billion, including interest.

“We are seriously considering and are near a strategic decision for the state to implement this project on its own, without a private partner. The final decision will also depend on the meetings taking place within ESM,” Prime Minister Hristijan Mickoski said at a media briefing on Tuesday.

He explained that the figures show that the investment’s internal rate of return is above 10 percent, making the project economically important.

“But it is not only about the economic aspect. Considering global warming, we believe that the region will lack two potable water reservoirs that could be built. It is extremely strategically important for us that the Tikvesh field is irrigated through this project. That is approximately 60,000 hectares of land,” Mickoski said.

This area, he added, could also be used for the development of data centers.

“We are very close to making a decision for the state to develop it independently, which would mean preparing a feasibility study—which we already have, and selecting a company to carry out the construction under the FIDIC Yellow model,” Mickoski said.

Photo: MIA archive