Sustainable Energy GEF Project

closed

Closed

The development objective of the Sustainable Energy Project of the Former Yugoslav Republic of Macedonia is to develop a sustainable market for energy efficiency (EE) and renewable energy (RE) by supporting the development of an enabling framework, institutional capacity, and necessary financing mechanisms. The specific focus of the project is on: (a) changing the current unfavorable investment and incentive conditions and creating an enabling environment in FYR of Macedonia that fosters the development of sustainable energy utilization; (b) supporting a large increase in EE investment in FYR of Macedonia through development of a self- sustaining, market-based financing mechanism based on a principle of commercial co-financing; and (c) Increasing the availability of financing for RE investments, enterprises and intermediaries. The project will include three components: (a) market framework which has the following sub-components: (1) capacity building strategic/legislative/institutional, which will comprise technical assistance focused on supporting the Government in designing and implementing policy and secondary legislation on the inclusion of RE in the electricity sector, and will also include support to the Macedonian Electric Power System Operator (MEPSO), the Energy Regulatory Agency and government departments with regard to streamlining of permitting processes; (2) capacity building, technical/advisory, which will focus on project development and project investment support; and (3) monitoring, information dissemination and administration; (b) support to utility-based Energy Service Company (ESCO), which will support the development and startup of ESCO, under the umbrella of MEPSO; and (c) sustainable energy financing facility, which will be a financing facility consisting of a loan guarantee facility and a loan facility, on a co-financing basis with commercial institutions and the Macedonian Bank for Development Promotion (MBDP).

FY17 - Energy and Extractives,FY17 - Public Administration

World Bank Group

Project

Solar, Power Transmission, Biomass, Wind, Geothermal, Hotel, Power Generation (CCGT), Raw Materials, Hydro, Government, Commercial