Thank you all for the replies
After many days of fixing Windows version of 'make' I found Windows Bash (Ubuntu terminal) and there everything works just fine . I have successfully build Micropython.
[CLOSED] Windows Bash solved the issue. Basically, I want to make my own changes in Micropython source code e.g. change pin of HW_LED_1 (one of four LEDs mounted to the board). I follow the instructions that are listed in README.md here: (https://github.com/micropython/micropython/tree/master/ports/...