As stated by the EBRD, the Project involves the provision of a non-recourse long-term senior loan in favour of STP WIND D.o.o.e.l., a special purpose vehicle incorporated in North Macedonia. The loan will be dedicated to the construction and operation of a 131 MW onshore wind farm in the Shtip region. The Project is the first phase of a larger wind development with a total planned capacity of 396 MW.

The Project will contribute to climate mitigation by adding 131 MW of wind generation capacity to North Macedonia's national energy system. This supports the country's commitment to phase out coal by 2030 and increase the share of renewables in its energy mix. The Project also strengthens private sector participation in North Macedonia's renewable energy sector and advances an inclusive transition by establishing a new greeniskills training initiative, developed jointly with the Borrower. This programme will target individuals from Shtip Municipality and wider Eastern region, supporting local workforce development and contributing to the country's broader just transition objectives.

TECHNICAL COOPERATION

Technical support will be provided for the Inclusive TI Community Skills Initiative with funding attained through the Action for Equality and Gender Multi-Donor Cooperation Fund (A4EG) multi-donor account.

Categorised A (2024 ESP). The project, once all three phases are completed, comprises the development of a 396MW onshore wind power project (up to 54 turbines of 6-8MW each) with a 35/400kV substation, ~80km of 35kV buried cables and ~68km of internal access roads and a ~7km 400kV overhead transmission line (OHL) to connect to the national grid. The wind farm is being developed in phases within an Urban Planning Boundary in the largely rural, hilly landscape in the Stip and Radovis municipalities (with a small portion in Karbinci).The Borrower has conducted an Environmental and Social Impact Assessment ('ESIA') in accordance with ESP 2024 requirements, including the following associated documents: a Non-Technical Summary ('NTS'); Stakeholder Engagement Plan ('SEP'); Livelihood Restoration Plan ('LRP'); Environmental and Social Management and Monitoring Plan (Framework) ('ESMMP(F)'); Biodiversity Management Plan (BMP); and an Environmental and Social Action Plan ('ESAP'). The document package will be disclosed on 27th February in Macedonian, and English on the Borrower's and EBRD's websites for a minimum of 60 days prior to Board consideration (privateisector CategoryiA). During disclosure, the Borrower will implement the SEP (public meetings and targeted engagement), appoint/maintain CLOs, keep project and LRP grievance mechanisms active, and issue a Public Consultation Disclosure Report summarising issues and responses. Targeted outreach will continue in this period (display of posters and plot checks) to confirm informal/seasonal users, with compensation prior to land access.The Bank's environmental and social due diligence (ESDD) is being conducted with support from an independent consultant and will remain ongoing during the disclosure period, including any updates to ESIA documents and finalisation of the ESAP. The ESAP will be agreed with the Borrower and disclosed, and this PSD updated if necessary prior to Board consideration.Siting and layout selection considered environmental and social constraints and existing land uses, aiming to minimise woodland/steppe loss, reduce disturbance to sensitive fauna, use existing corridors for internal roads where feasible, and concentrate permanent land take. The project is phased (Stipi1i3) to enable adaptive management and progressive refinement of measures.The Project area contains Critical Habitat (CH) for Eastern white oak woods (Annex I priority habitat), five CH bat species and two CH reptiles, and supports Priority Biodiversity Features (PBF) including HellenoiBalkanic Satureja montana steppe and c. 80 PBF species across birds, bats, reptiles and amphibians. Key risks include permanent and temporary habitat loss/fragmentation, nest/roost disturbance during construction, and operational collision risk for birds and bats. The BMP includes detailed constructioniphase controls (ecologistisupervised vegetation clearance, strict footprint demarcation, preiconstruction nest/roost checks, fauna relocation protocols, invasive species controls, lighting/timing restrictions) and OHL birdidiverter installation in line with good practice. The exact measures and adaptive management for biodiversity management during operations will be further refined, however the project has committed to blade feathering as a bat collision mitigation. In view of CH, the Project commits to Net Gain for CH woodland and No Net Loss for PBF features, to be implemented through a Biodiversity Action Plan (BAP) and the BMP, developed during construction and informed by updated survey results during construction. During ESDD the Bank identified biodiversity elements requiring further refinement (updated Critical Habitat Assessment, quantified residual impacts, EUROBATSialigned atiheight bat monitoring, and definition of operational controls including selective curtailment/SDOD), which will be addressed through the ESAP and finalised prior to construction/operation.With regards to other environmental aspects, construction will generate temporary dust, noise, vibration, and erosion/sediment risks from earthworks and road upgrades, to be managed via standard controls and progressive reinstatement under the ESMMP(F). Operations are expected to have low routine emissions, with turbine noise predicted within applicable limits. Wildfire risk is recognised in the climate risk assessment and will be managed through vegetation management and emergency preparedness. Visual effects are typical of ridgeiline wind projects and assessed in the ESIA.No physical displacement is anticipated. The LRP addresses economic displacement for private landowners/tenants (formal) and users of state land (including seasonal users), with mitigation based on full replacement cost compensation, transitional allowances and five livelihood restoration programmes. The total land requirement is ~3.04imillionims (approx. 11i% private / 89i% public). The 400ikV OHL affects ~221,380ims (i2,934ims permanent tower pads; 218,447ims easements across 15 permanent and 149 easement plots). Surface land uses (e.g., grazing, shallow crops, beekeeping) are expected to continue posticonstruction across the Project area, subject to safety restrictions. Outreach during disclosure and post-disclosure will focus on continue identifying and including informal/seasonal users within the LRP and entitlements.Construction will require a substantial workforce with associated risks in contractor management, worker accommodation, traffic and oversized loads, and community safety (including child safety near works). The ESIA requires a contractor ESMS, Traffic Management Plan, Worker Grievance Mechanism, a Local Recruitment Plan, and measures addressing GBVH and codes of conduct. Community H&S risks during construction (traffic, dust, noise, vibration) management is outlined in the ESMMP framework with ongoing supervision and reporting.Known cultural/archaeological features and local cultural/religious gathering places in proximity to the Project area require access management and protection measures. A ChanceiFind Procedure will be implemented during groundidisturbing works, with buffer zones and coordination with the relevant heritage authorities as needed.Stakeholder Engagement to date has included household/landowner surveys, keyiinformant interviews and focus groups (agriculture, livestock, beekeeping, herbigathering, hunting, genderispecific, seasonal users), alongside consultations with authorities. Key issues raised include traffic and oversizediload safety, child safety near works, water scarcity, access to cultural/religious gathering places, expectations on compensation and continued access for informal users, and barriers to participation for women, elderly, lowiincome and minority groups. During disclosure the Borrower will implement the SEP (municipalilevel sessions and targeted smalligroup meetings), appoint/maintain CLO(s), maintain project and LRP grievance mechanisms, and publish a postidisclosure consultation report summarising issues and responses.The ESAP structures the Project to the 2024 ESP. It will be updated based on disclosure feedback and agreed prior to signing, covering completion of biodiversity baseline updates and the finalisation of construction and operationsiphase biodiversity measures to be in place prior to commissioning. The Bank will engage independent consultants to monitor E&S implementation during construction and early operation.

Investment information not provided at the time of disclosure.

As stated by the EBRD, STP WIND D.o.o.e.l. is a limited liability company incorporated in North Macedonia, established for the sole purpose of constructing and operating the Shtip wind farm. The Company is fully owned by Alcazar Energy Partners II SLP, an experienced infrastructure fund specialising in renewable energy.

Client - Alcazar Energy Partners:

Tim Sheahan
Email: tsheahan@alcazarenergy.com 
Address: Office 702, Level 7, Park Heights Square 1, Dubai Hills Estate, Dubai, United Arab Emirates
Website: https://alcazarenergy.com/single-projects/stip-wind-farm/
Project website: http://www.stipwindfarm.mk  
Address: Alcazar Energy Partners Skopje Office, TGG Business Center, 2nd floor, Pirinska 29, 1000 Skopje, North Macedonia

Tanja Dimitrova Filkoska
Phone: +389 70247773
Email: tfilkoska@ALCAZARENERGY.COM 

Viktor Dimitrov
Phone: +389 71349995
Email: clostipwindfarm@alcazarenergy.com 

Full ESIA documentation is available locally at:

Alcazar Energy Partners Skopje Office
TGG Business Center, 2nd floor, Pirinska 29, 1000 Skopje, North Macedonia

Stip Wind Farm Community Liaison Office
Kej Marsal Tito 54-1, 2nd floor, Shtip, North Macedonia

EBRD Skopje Resident Office
Soravia Centre Skopje, 7th floor, Filip II Makedonski no. 3, 1000 Skopje, North Macedonia
Telephone: +389 2 3297 800

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html