1. What We Do

Sustainable Energy GEF Project

Abstract*

The development objective of the Sustainable Energy Project of the Former Yugoslav Republic of Macedonia is to develop a sustainable market for energy efficiency (EE) and renewable energy (RE) by supporting the development of an enabling framework, institutional capacity, and necessary financing mechanisms. The specific focus of the project is on: (a) changing the current unfavorable investment and incentive conditions and creating an enabling environment...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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Development Objective

The development objective of the project is to develop a sustainable market for EE and RE by supporting the development of an enabling framework, institutional capacity, and necessary financing mechanisms. Specifically, the project would: - Change the current unfavorable investment and incentive conditions and create an enabling environment in Macedonia that fosters the development of sustainable energy utilization (in this context defined as efficient use of energy and use of renewable energy sources) through providing financial, methodological, informational, and institutional support; - Support a large increase in energy efficiency (EE) investment in Macedonia through development of a self-sustaining, market-based financing mechanism based on a principle of commercial co-financing.The project's goal is focused on the development and implementation of financially profitable EE projects, which can provide sustainable and increasing reductions in GHG emissions without relying on public subsidy; and Increase the availability of financing for renewable energy (RE) investments, enterprises and intermediaries through the establishment of a financial facility with a long-term time horizon, which will provide seed capital for debt co-financing of RE projects.

Key Details

Project Details

  • P089656

  • Closed

  • Peter Johansen

  • N/A

  • North Macedonia

  • October 26, 2004

  • (as of board presentation)

    December 19, 2006

  • July 31, 2007

  • US$ 5.50 million

  • F

  • Not Applicable

  • March 30, 2013

  • BANK APPROVED

  • January 15, 2013

  • Notes

Sectors

Created with Highstock 5.0.14FY17 - Central Government(Central Agencies)FY17 - Central Government (Central Agencies)FY17 - Renewable EnergyBiomassFY17 - Renewable Energy BiomassFY17 - Renewable EnergyGeothermalFY17 - Renewable Energy GeothermalFY17 - Renewable Energy SolarFY17 - Renewable Energy WindFY17 - Other Energy andExtractivesFY17 - Other Energy and Extractives

Themes

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
Borrower/Recipient 1.00
Global Environment Facility (GEF) 5.50
Borrowing Country's Fin. Intermediary/ies 3.85

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment N/A
IDA Commitment N/A
IBRD + IDA Commitment N/A
Lending Instrument
Grant Amount 5.50
Total Project Cost** 10.35

Summary Status of World Bank Financing (US$ Millions) as of April 30, 2025

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No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of April 30, 2025

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No data available.
Period Financier Transaction Type Amount (US$)
Footnotes

Ratings

IMPLEMENTATION RATINGS

Name Review Date
Overall Safeguards Rating Satisfactory 2013-02-13
Financial Management Satisfactory 2013-02-13
Monitoring and Evaluation Satisfactory 2013-02-13
Overall Implementation Progress (IP) Moderately Satisfactory 2013-02-13
Summary Global Objective Rating Moderately Satisfactory 2013-02-13
Procurement Satisfactory 2013-02-13
Overall Moderately Low 2013-02-13
Counterpart Funding Satisfactory 2013-02-13
Project Management Moderately Satisfactory 2013-02-13
Overall Safeguards Rating Satisfactory 2013-02-13

COMPLETION RATINGS

INDICATORIMPLEMENTATION COMPLETION & RESULTS REPORT: 09-30-2013
OutcomesModerately Satisfactory
Risk to Development OutcomeModest
Bank PerformanceModerately Satisfactory
Borrower PerformanceModerately Satisfactory
Government PerformanceModerately Unsatisfactory
Implementing AgencyModerately Satisfactory

INDEPENDENT EVALUATION RATINGS

INDICATORICR REVIEW: 12-29-2014PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome RatingModerately Satisfactory N/a
Risk To Development OutcomeModerateN/a
Bank PerformanceModerately SatisfactoryN/a
Borrower PerformanceModerately SatisfactoryN/a
Government PerformanceModerately SatisfactoryN/a
Implementing AgencyModerately SatisfactoryN/a
Icr QualitySatisfactoryN/a
M&e QualitySubstantialN/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Total RE capacity licensed (MW)Value0.0082.198.39
    DateDecember 31, 2009November 30, 2012March 31, 2013
    CommentSource is energy regulator. The number includes a 37 MW wind farm in Bogdanci
  • Value of EE projects reaching financial closureValue0.002260000.003960000.00
    DateDecember 31, 2009November 30, 2012March 31, 2013
    CommentData relates to Ohrid hotel project and municipal Phase 1 and part of Phase 2 projects.
  • Expected savings from EE (GWh), lifetimeValue0.0095.20219.30
    DateDecember 31, 2009November 30, 2012March 31, 2013
    CommentThis estimate is based on the building retrofits already installed. It does not include projects still under implementation. Thereis a risk that the end level will be a little lower than the target.
  • Reductions in CO2 emissions at the national and project levels (TCO2), lifetimeValue0.004061911.00775000.00
    DateDecember 31, 2009November 30, 2012March 31, 2013
    CommentContribution from RE projects under construction is included
  • MoUs signed with municipalitiesValue0.0012.008.00
    DateDecember 31, 2009November 30, 2012January 31, 2013
    CommentTarget met
  • Energy Audits completedValue0.0036.0032.00
    DateDecember 31, 2009November 30, 2012January 31, 2013
    CommentTarget met
  • Volume of contracts signed for EE updates in municipal buildingsValue0.002800000.002460000.00
    DateDecember 31, 2009November 30, 2012January 31, 2013
    CommentTarget met
  • Volume of loans made from SEFFValue0.001450000.001292000.00
    DateDecember 31, 2006November 30, 2012January 31, 2013
    CommentInfo from MBDP - target met
  • Volume of cofinancing for SEFF loansValue0.002716000.004013000.00
    DateDecember 31, 2006November 30, 2012January 31, 2013
    CommentInfo from MBDP. February data was due to errror.
  • Expected generation from new RE (GWh), lifewtimeValue0.005158.80628.10
    DateDecember 31, 2009November 30, 2012March 31, 2013
    CommentContribution from RE projects under construction is included
  • Generation Capacity of Renewable Energy (other than hydropower) constructedValue0.001.001.00
    DateDecember 31, 2009November 30, 2012March 31, 2013
    CommentMega Solar PV project in Bitola
  • Generation Capacity of Renewable Energy constructed-SolarValue0.001.001.00
    DateDecember 31, 2009November 30, 2012March 31, 2013
    CommentMega Solar PV project in Bitola
  • Introduction of an enabling regulatory and incentive framework for REValueN/ACompletedCompleted
    DateDecember 31, 2006November 30, 2012March 31, 2013
    CommentFeed-in tariffs for RE introduced. Rulebooks on Certificate of Origin and procedural directives prepared. Procedures for land andresource use and acquisition introduced. Licensing framework established.
  • Total financing of EEValue0.00210000.001150000.00
    DateDecember 31, 2009November 30, 2012March 31, 2013
    CommentInfo from MBDP
  • Volume of energy audits and S&I contracts co-financedValue0.00737000.00348000.00
    DateDecember 31, 2009November 30, 2012March 31, 2013
    CommentTarget met
  • Total financing of REValue0.003958000.004157000.00
    DateDecember 31, 2009November 30, 2012March 31, 2013
    CommentInfo from MBDP