Additional European Commission funding approved for Croatian geothermal plant
Croatia June 19, 2017
The European Commission decided that Croatia’s first geothermal power plant can apply for additional funding along with existing financing to support the HR GEOc Geothermae project. The EC decision came after Croatian Euro MP Marijana Petir requested the additional funding and filed a detailed explanation for a geothermal plant in the Međimurje area of Croatia.
The added financial support is for an advanced geothermal power plant which is one of the country’s national strategic projects.
The project won a European Commission award as one of the most innovative projects submitted under the NER300 program which provides co-financing of innovative technologies in the field of renewable energy sources and the capture and storage of carbon dioxide. The project was awarded EUR 14.7 million.
A large number of the submitted projects did not reach the stage of investment and some of the funds were freed for other projects. There is now a total of EUR 552 million in funds which have not been allocated under the first invitation for NER300 projects. The EC said the funds will be available in the final quarter of 2017.
The decision to allocate the remaining funds was adopted at the latest session of the climate changes commission and the existing projects which are already under implementation will get financing and new applications can be made for the InnovFin EDP program, Alen Višnjić, CEO of the Međimurska energetska agencija d.o.o. (Medjimurje Energy Agency) said.
The project is valued at an estimated EUR 75.4 million and the geothermal power plant will produce 18 MW of electricity and 89 MW of heat energy. There are also plans to build a medical tourism complex and a central heating network for the town of Prelog.
The power plant in Međimurje is one of 19 projects financed by the program to combat climate changes in this part of Europe.