The Ministry of Energy, Mining, and Mineral Resources, in cooperation with the European Bank for Reconstruction and Development (EBRD), has initiated the process of introducing the "Contracts for Difference" (CfD) mechanism as a new model to support investments in renewable energy sources.
The CfD model, already proven across the EU, will accelerate investments in renewable energy capacities while protecting consumers from market volatility.
At today’s kick-off meeting, Minister Sanja Bozhinovska emphasized that CfD is not just a financial instrument but a systemic change that provides stability for investors and protection for consumers.
“With this reform, we are setting predictable and sustainable conditions for investments in solar and wind capacities, accelerating our ambitious goals – 1.7 GW of renewable energy by 2030. The CfD mechanism brings certainty, lower costs, and a competitive market, which is essential for a fast transition to clean energy,” stated Minister Bozhinovska.
With support from the EBRD and expertise from international partners, North Macedonia will adapt this mechanism to the local energy market, opening new opportunities for investors. The expectation is that this will lead to a faster development of renewables and stable long-term prices for consumers.
The preparation process will continue in the coming months, with an in-depth analysis of the regulatory and financial aspects, aiming to create a model that delivers real and sustainable results for North Macedonia's energy sector.
Respectfully,
Ministry of Energy, Mining, and Mineral Resources
