Croatia to earmark EUR 500 million for batteries

The Government of Croatia is preparing EUR 500 million for the installation of batteries for storing renewable energy.

Minister of Economy and Sustainable Development Damir Habijan said Croatia is ready for changes in the energy sector. It is important to conduct the energy sector’s green transition, but also tackle the security of supply, he stressed.

Thanks to the National Recovery and Resilience Plan (NRRP or NPOO) and the European Commission’s REPowerEU plan, Croatia has received EUR 1.6 billion, Habijan said at the seventh international energy conference organized by the country’s oil transport company Jadranski Naftovod (JANAF), state-owned news agency Hina reported.

A contract was signed last week to upgrade the country’s liquefied natural gas terminal

Some of the said funds were deployed for a EUR 533 million contract, signed two weeks ago, on increasing the capacity of the liquefied natural gas (LNG) terminal on the island of Krk from 2.9 to 6.1 billion cubic meters per year, and to build the Zlobin-Bosiljevo-Kozarac-Sisak gas pipeline and another one toward Hungary and Slovenia, he noted.

These projects serve to diversify and increase the security of supply, he underscored.

The rest of the funds, in his words, will be used for the green transition, and around EUR 500 million will be earmarked for large batteries.

JANAF plans to invest in renewable energy sources

The energy storage facilities will be used by all producers of electricity from renewable sources and they won’t need to deliver output immediately to the transmission grid, Habijan explained.

Chairman of the Management Board of JANAF Stjepan Adanić said it intends to diversify its operations.

It strives to become an energy producer by investing in solar, geothermal and wind energy, he stressed. Adanić expressed hope that JANAF would grow into a respectable energy company.