North Macedonia Eyes US Development Finance for Long-Stalled Chebren Plant

North Macedonia’s Chebren pumped-storage hydropower project — stalled for decades — may be approaching a breakthrough, with the prime minister reporting that American financial institutions have shown potential interest in funding its construction.

During a recent visit to Washington, the prime minister held talks with Caroline Vick, who handles development projects at the US International Development Finance Corporation (DFC). He said the DFC — which manages a portfolio of more than $220 billion — could be among the investors in the plant on the Crna River. The United Kingdom has also previously been mentioned as a potential backer.

In an interview with Balkan Green Energy News, the prime minister said the project’s expected return rate runs into double digits and that a groundbreaking could come as early as next year. He described Chebren as valuable for energy storage and for balancing the national grid. The prime minister also cited anticipated gains for water reserves and irrigation across the Tikveš valley.

Chebren is conceived as one element of a larger integrated hydropower system, intended to work in tandem with the planned Galište hydropower plant and the existing 113 MW Tikveš station. Given the project’s scope, the prime minister acknowledged that its completion would stretch across the mandates of several future governments.

Source: Balkan Green Energy News