Renewables

Croatian City of Šibenik, Vallis Solaris nearing EUR 1 billion deal on investment in solar

sibenik vallis solaris solar investment

Photo: Marconny from Pixabay

Published

October 19, 2023

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Published:

October 19, 2023

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The City of Šibenik and German company Vallis Solaris are getting closer to an investment in the solar industry value chain which could reach EUR 1 billion and provide 5,000 jobs.

Vallis Solaris gave consent to the City of Šibenik to send their agreement for a vote in the local assembly. It would initiate the procedure for the purchase of land and pave the way for the largest investment in the nearby Podi industrial zone and entire Croatia, Šibenski Portal reported.

The company has already signed a memorandum of understanding with the Government of Croatia.

The investmen could expand to the production of hydrogen, methanol and synthetic fuels

Back in February 2019, the Ministry of Regional Development and EU Funds said the Fraunhofer Institute for Solar Energy Systems ISE (Fraunhofer ISE), based in Freiburg, Germany, and the government intend to sign an MoU on cooperation for the establishment of a fully integrated photovoltaic manufacturing line in the country.

At that time, the project was estimated at EUR 5 billion.

The local news outlet now said the investment in the photovoltaic industry value chain is worth EUR 1 billion.

The facility would manufacture polysilicon, ingots, wafers, solar cells, solar glass, system components and inverters, after which it could expand to the production of hydrogen, methanol and synthetic fuels.

The manufacturing project will attract investments in solar and wind power plants

It would all require a large amount of electricity from renewable sources, implying the need for solar parks and wind farms, said Professor Volker Wittwer, co-owner of Vallis Solaris.

He is also one of the initiators of the project and one of the founders of Fraunhofer ISE.

The investment in the industrial part of the project should reach EUR 1 billion within eight years, and the full capacity should be achieved in ten years.

In the first phase, Vallis Solaris would buy the currently available 50 to 60 hectares in the Podi industrial zone. However, it would need up to 300 hectares overall.

The project includes the creation of five thousand 5,000 in phases within eight years. Wittver explained that the company would launch cooperation with the Polytechnic of Šibenik and the universities in Zagreb and Split to obtain a skilled workforce.

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