Upon the international call to tender for the construction of one of the largest energy projects in the country’s history,  the Government of  Macedonia at its 185th session on Thursday,  adopted a decision enabling the realization of the reversible hydropower plant Chebren.

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 an 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.

“At the 185th session, the Government adopted a decision for the selection of the most favorable offer for the concession of the use of water for the production of electricity with the construction of a hydropower plant on Crna Reka which is being granted to PUBLIC POWER CORPORATION S.A. – Greece & ARCHIRODON GROUP N.V. – Greece, in line with the tender documentation and the concession agreement,” said the Government.

According to the decision, the selected party has the obligation to reach a joint investment agreement and establish a joint venture with Power Plants of Macedonia (ESM), in which ESM will participate with 33 percent of the shares.

Chebren, added the Government, is of exceptional importance for the energy transition of the country and the region, due to the possibility of balancing the renewable sources of energy. At the same time, it will have immense importance in terms of flood protection, water supply, agriculture, etc. The dam will be one of the tallest in the world at 192 meters.