The European Bank for Reconstruction and Development (EBRD), an international financial institution, and KfW have financed the Bitola 3 solar project through sovereign-guaranteed loans. EBRD has provided up to €37 million (~$ 43.62 million), while KfW has committed up to €50 million (~$ 58.94 million). The financing has supported the development, construction and operation of a 134 MW (DC) solar power plant. It represents the first jointly financed and implemented project by EBRD and KfW. The EBRD loan has been extended to Elektrani na Severna Makedonija, North Macedonia’s state-owned electricity generation utility. The project has been implemented under the Just Energy Transition Investment Platform launched in 2023. It has supported large-scale renewable deployment and coal transition objectives. Bitola 3 is expected to generate about 180.9 GWh of electricity annually. It is expected to reduce carbon dioxide emissions by around 134,000 tons per year.