A consortium composed of the Public Power Corp. (PPC), Greece’s dominant power utility, and multinational construction contractor Archirodon, has been awarded the right to build and commercially exploit a major hydroelectric project in the Republic of North Macedonia, one valued at one billion euros.
The country’s Cabinet approved and announced the decision on Thursday for the long-awaited Čebren hydroelectric project, which will include the Republic of North Macedonia’s state-run power utility as a stake-holder.
The planned 333-458 MW hydropower plant, with an annual production of 1,000-1,200 GWh, will be implemented as a public-private partnership with state power utility Elektrani na Severna Makedonija (ESM), with the latter holding a 33-percent stake.
According to reports, the PPC-Archidoron consortium submitted the sole accepted bid in the latest tendering process, although a total of nine candidates had qualified for the second phase of tendering. The only other bid submitted by French energy group Électricité de France (EDF).
The contract was finally awarded following after more than a dozen failed tenders over the past 20 years, the North Macedonia government stated.
The selected bidder now has three months to set up a joint venture with ESM.
The Čebren project includes building a new artificial lake on the Crna Reka River, which will be the largest in the land-locked country located between Greece, Bulgaria, Serbia and Albania. A 192-meter dam for the Čebren hydropower plant will be one of the highest in the world, the government underlined, noting that the project was of immense importance for flood prevention, water supply and farm irrigation.
Latest News
Greek Driver Violations at a Touch of a Button
Traffic offences recorded in the last five years by Greece’s “Driver Behavior Control System” are now available on Gov.gr Wallet
Milan Tops List of Most Expensive Streets, Athens’ Ermou Holds Steady at 15th Place
In Athens, following Ermou Street is the southern suburb of Glyfada and Tsimiski Street in Thessaloniki.
New Gov.gr Service Enables Secure Reporting of Minor-Related Delinquency
It should also be noted that via the recently introduced initiative ‘Safe Youth’ application citizens have access to specially tailored informative material regarding the safety of children and adolescents
Thousands Strike in Athens Over Soaring Living Costs and Stagnant Wages
Inflation, particularly in food prices, has been crushing Greek households
Greece Overhauls Property Valuation System
Greece plans to launch a revamped property value registry in 2025 and overhaul the way objective values are calculated to enhance tax revenue and improve transparency.
Greece’s New Tax Bill Foresees Tax Relief Beyond Big Business
Tax relief measures in Greece are proposed for freelancers, property owners and farmers, along with 'big business'
Unions Call Nationwide Industrial Strike for Wed.
Mass transits are usually affected, especially in the greater Athens-Piraeus area, although bus and metro services are curtailed but not fully halted
Yannis Vardinoyannis Assumes Post of Motor Oil Board President
He succeeds his father, Vardis, who passed away last week at the age of 91
PM Mitsotakis to Bloomberg: Our Majority Is Stable, Elections To Be Held in 2027
"The government has a solid 2.5-year mandate from the people to implement its policies," Mitsotakis stated
Greek Economy Shows Resilience, Consumer Confidence Remains a Challenge
Therefore, there is need for policy interventions in order to boost demand, stabilize the labor market and support industrial production