Maja Maćić: Alcazar Energy expands presence in Western Balkans

Alcazar Energy is an independent sustainable infrastructure fund focused on renewable energy in emerging markets. It has been present in the Balkans since 2022 and is developing projects in Serbia, Montenegro, and North Macedonia. Maja Maćić, Balkans Platform Head of Alcazar Energy, said at Belgrade Energy Forum (BEF 2025) that the company expects to launch construction activities for some of its projects later this year.

Alcazar plays a significant role in the development of the renewable energy sector in MENAT (Middle East, North Africa, and Turkey) and the Balkans, including projects in Montenegro, Serbia, and North Macedonia.

The company’s presence in the Western Balkans began with the Bijela wind farm project in Montenegro, planned at 118.8 MW. According to Maja Maćić, Alcazar Energy is in the final stages of preparing the technical and other required documentation for the construction permit.

The Bijela wind farm will be in operation by the end of 2028.

“We expect to have the fully permitted project in the third quarter of this year and to close financing by the end of the year, to initiate some early construction activities within this year, but to have construction in 2026 and 2027, with the main aim to have the operational project by the end of 2028,” Maćić said.

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The Celzijus wind farm project is one of the largest in the region

By acquiring the largest wind power project in North Macedonia, for the Štip wind farm, Alcazar Energy has expanded its regional presence by 400 MW.

According to Maćić, the company expects to secure all required permits by the end of the year and begin construction. “Due to an improved legislation framework, we have made significant progress in North Macedonia and Montenegro, and we are proud that soon we will have construction activities and engage local companies on the sites,” she stated.

Last year, Alcazar Energy acquired the Celsius 1 wind farm project in Serbia, for 200 MW in capacity. It signed a deal with RP Global, which was developing the project before that. Their transaction includes a portfolio of additional wind and solar projects, totaling 768 MW. The investment in Celsius 1 is estimated at USD 300 million, which would make it one of the largest wind farms in the region.

“We believe that we will also manage to make significant progress in Serbia in order to deploy local companies and international companies, fulfilling the highest international standards and our local policies,” Maćić said.