Thursday, 18 August 2022 12:19

BIG Shopping Centers buys 70 MW solar power project

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The 70 MW project is planned to be built on 88.5 hectares of land and is expected to produce 114 GWh per year. The company is in advanced negotiations to purchase an additional 39.4 hectares of land adjacent to the project. The goal is to install an additional 35 MW, thereby increasing the project's capacity to 105 MW. This amount is based on a selling price of EUR 70 per net MWh for a project duration of at least 25 years. The deal is contingent on receipt of a 70 MW construction permit and assumes no material adverse change in the project's performance.

The deadline for obtaining a building permit is 16 months from the date of signing the agreement. Completion of the transaction is subject to several conditions, including approval by the North Macedonia Commission for the Protection of Competition.

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