Power utility HEP invites applications for assistance from ZelEn fund

Croatian state power company Hrvatska Elektroprivreda (HEP) has invited social care institutions to apply for a total of HRK 1 million (EUR 135,000) in assistance from the ZelEn fund, which is financed through the sale of electricity produced exclusively from renewable energy sources, according to an announcement on HEP’s website.

ZelEn is electricity produced from renewable energy sources registered in the certificate of origin system. It is intended for businesses that have opted to operate in a socially responsible way, caring for the environment, and using electricity from renewable sources. Through the ZelEn product, HEP and its partners promote sustainable energy sources and an environmentally-friendly approach to the production of electricity.

Receipts from the sale of ZelEn are paid into a fund for financing renewable energy and energy efficiency projects at institutions providing support to vulnerable groups. Applicants must submit project documentation, along with a full cost statement and an investment estimate.

In last year’s round, HEP offered a total of HRK 1.5 million (around EUR 200,000) from the ZelEn fund, according to earlier reports.

Previous three rounds helped avoid 68 tons of CO2 emissions CO2 annually

In the previous three rounds, the ZelEn fund financed nine projects, worth a total of HRK 2.4 million (EUR 323,000), resulting in energy savings of around 240,000 kWh and helping avoid emissions of 68 tons of CO2 a year, according to HEP’s website.

In 2018, there were more than 130 buyers of ZelEn electricity, making it possible to issue the latest public call, HEP noted.

The price of ZelEn electricity is 20 euro cents, or about HRK 1.5 per MWh. This means that a firm which consumes 1 million kWh a year will pay for ZelEn electricity just HRK 1,497 more on an annual level, or about HRK 125 (EUR 16.8) more per month, compared with regular electricity, according to the website of ZelEn.

For now, ZelEn electricity is available to businesses only but HEP plans to make the product available to households as soon as possible, according to the ZelEn website.