While the European Union has made strong progress, with renewable energy accounting for more than 41 percent of gross final energy consumption in 2024 and a target of 42.5 percent by 2030, North Macedonia is following its own path.
Today, renewable energy accounts for about 24 percent of the country’s energy mix, driven primarily by hydropower. At the same time, the country’s vast potential in solar and wind energy remains largely untapped. Unlocking this potential is essential for achieving real energy independence and meeting national climate goals.
Solar energy offers a particularly strong opportunity. On average, North Macedonia experiences 260-280 sunny days per year. This means around thirty to forty percent more solar radiation than the European average. The challenge is turning this natural advantage into practical and affordable solutions.
Bridging the gap between potential and reality requires more than political commitment. It requires financial solutions that connect ideas with action. This is where the Green Financing Facility, or GFF, plays a transformative role.
By reducing investment risks and improving access to finance, the GFF helps ensure that the green transition is not a privilege for a few, but a realistic option for many. The facility is designed to support those who often face the greatest barriers: households affected by energy poverty and small and medium-sized enterprises working to remain competitive.
By turning the idea of Clean Energy for People and Planet into an everyday reality, the GFF is helping families and local businesses convert 280 days of sunshine into long-term resilience, lower costs, and a healthier environment.
Empowering the Engine of Growth: How the GFF Is Transforming Macedonian SMEs
The Green Financing Facility is strengthening the economy's backbone by removing financial barriers that prevent small and medium-sized enterprises from investing in clean energy.
Through a 10 percent investment grant and favorable loan terms, the GFF enables businesses to transition from passive energy consumers to active energy producers. This transition allows enterprises to gain greater control over energy costs, reduce exposure to price volatility, and lower their carbon footprint.
Investing in renewable energy is not only an environmental responsibility but also a smart, competitive business decision.
Harnessing the Sun at the Gates of Bitola Transkop AD
In Bitola, the Transkop AD intercity bus station, a key transport hub, has undergone a modern upgrade. By installing a photovoltaic power plant on the station roof, the company turned an unused surface into a source of clean energy.
For Atanas Kjosevski, Executive Director of Transkop, the decision was driven by both necessity and opportunity. Sudden increases in electricity prices made energy self-generation a logical step to protect business stability.
The benefits go even further. By selling excess electricity back to the grid, Transkop created a new, sustainable revenue stream. This double benefit shows how clean energy investments can stabilize operating costs while supporting economic growth.
Scaling Impact in Kumanovo Eko Energy 2022
Eko Energy 2022 has set a new benchmark for private sector investment under the GFF. The company secured the largest loan approved under the programme to date, amounting to one million euros, to build a large-scale photovoltaic power plant.
The impact is substantial. The plant now generates more than 2,800 75-MW hours of clean electricity each year. This production avoids approximately 2,300 tons of greenhouse gas emissions annually.
For the company owner, Snezana Petrusevska, the investment reflects a broader vision for the country’s future. She explains that the company was created not only as a business but also to protect the environment and reduce dependence on imported electricity.
“Investments like these,” she notes, “are vital for the long-term sustainability and resilience of the energy sector.”
From Policy to Porch: Empowering Families through the GFF
While enterprises drive economic growth, the energy transition truly begins at home. To ensure that clean energy benefits reach every citizen, the GFF provides households with a thirty percent grant on loans for renewable energy investments.
This support helps make sustainable living achievable rather than a luxury.
The Taste of a Sun-Powered Home: Sinisha’s Green Homecoming
The impact of this support is evident in the story of Sinisha Baeder. After many years in Canada, Sinisha returned to his hometown of Shtip with a clear goal. He wanted to build an energy-efficient home for his wife and two young children.
He chose a location on the outskirts of the city overlooking a valley increasingly filled with solar panels. For him, renewable energy felt like a natural fit with both the landscape and the values he developed abroad.
Building a modern, environmentally friendly home requires a significant financial commitment. The Green Financing Facility made the difference. With access to the thirty percent grant, Sinisha was able to reduce the cost of installing a high-quality solar system.
“The grant made the decision easy,” he says. “It bridged the gap between wanting an eco-friendly home and actually being able to afford it.”
A Brighter Horizon Shaping North Macedonia’s Energy Future
As the world marks the International Day of Clean Energy, the experiences of Transkop AD, Eko Energy 2022, and the Baeder family show what is possible.
They demonstrate that the transition to renewable energy is not merely an aspiration. It is built on practical, local decisions that strengthen the economy, improve energy security, and protect the environment.
The future of North Macedonia lies in harnessing the sun that has shaped its culture for centuries and turning it into a driver of modern prosperity. Through the Green Financing Facility, the country is moving toward a more decentralized and resilient energy system in which rooftops contribute to the national grid, and businesses are better protected from global energy shocks.
The sun is rising on a greener North Macedonia, and together, we are ready to power it.
Original publication: https://www.undp.org/north-macedonia/blog/280-days-opportunity-turning-north-macedonias-sunshine-energy-independence
Note:
The programme “Green Finance Facility to Improve Air Quality and Combat Climate Change in North Macedonia” is financed by the United Nations Joint SDG Fund, the Government of the Republic of North Macedonia, EBRD, and participating financial institutions. The programme is implemented by UNDP North Macedonia, IOM, UNECE Sustainable Energy, and EBRD.
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All joint programmes of the Joint SDG Fund are led by UN Resident Coordinators and implemented by the agencies, funds, and programmes of the United Nations development system. With sincere appreciation for the contributions from the European Union and Governments of Belgium, Denmark, Germany, Ireland, Italy, Luxembourg, Monaco, the Netherlands, Norway, Poland, Portugal, the Republic of Korea, the Kingdom of Saudi Arabia, Spain, Sweden, and Switzerland for a transformative movement towards achieving the SDGs by 2030.
