North Macedonia to comply with EU energy acquis thorough ESCO projects
Thanks to a new Energy Efficiency Law that the country passed at the end of February, Energy Savings Performance Contracts (ESCO) will be implemented in North Macedonia for the first time. The undertakings are facilitated by EBRD through Regional Energy Efficiency Programme (REEP), funded by the EU and supported by the Energy Community. The first two municipalities to benefit from the programme will be Makedonska Kamenica and Chesinovo Obleshevo.
ESCOs use specific model contracts that enable the implementation of energy efficiency projects for street lighting, industry and energy supply (heat and electricity). The solution alleviates the financial commitment of the beneficiary as they recover investments from savings in energy costs without having to pay upfront. Makedonski Telekom will pay for the total investment needed for replacing old lighting with high quality LEDs, while the municipalities will repay the whole investment exclusively through energy savings guaranteed by the ESCO.
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