September 9 (SeeNews) - North Macedonia's environment ministry said it decided to award a consortium of Greek companies PPC and Archirodon a concession contract for the construction of the 333-megawatt Cebren hydro power plant (HPP).
The offer by the other shortlisted candidate, France's EDF, was rejected because it was non-binding and lacked the necessary bank guarantees, environment minister Naser Nuredini said in a Facebook post on Wednesday.
In 2021, North Macedonia's government said that the construction of the Cebren plant is expected to cost 500 million - 600 million euro ($502 million - 602 million).
The project will be carried out as a public-private partnership with state-owned electricity company ESM.
Production of electricity is envisaged to begin between 2028 and 2029.
($ = 0.99345 euro)