Renewables

Croatia’s HEP secures financing for Korlat solar power plant

croatia hep korlat ebrd eib loans

The future look of the hybrid energy park (photo: HEP)

Published

October 24, 2024

Country

Comments

comments icon

0

Share

Published:

October 24, 2024

Country:

Comments:

comments icon

0

Share

Croatian state-owned power utility Hrvatska Elektroprivreda has signed loan agreements with the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) on financing the construction of the Korlat solar power plant.

The total value of both loan contracts for the Korlat project is EUR 62 million, of which the EBRD’s loan is worth EUR 31.62 million and the EIB approved EUR 30.38. The package is 80% covered by a state guarantee, in line with the decisions of the Government of Croatia, according to Hrvatska Elektroprivreda (HEP).

Korlat is the largest photovoltaic project in Croatia with a construction permit. Its nameplate capacity would be 99 MW, translating to a grid connection of 75 MW. The expected annual generation is 165 GWh, sufficient to supply around 50,000 households.

An existing wind farm and the PV facility would create a renewable hybrid energy park

The PV facility would be located near the village of Korlat, about seven kilometers from the town of Benkovac in southwest Croatia. The company built its Korlat wind farm there of 58 MW in 2021. It was the first without feed-in tariffs in Croatia and HEP’s first wind park.

According to the utility, it will integrate the two facilities into a renewable hybrid energy park, the first of its kind in the country.

The start of construction works is planned for 2025

The Korlat PV project involves the construction of a solar power plant on an area of about 150 hectares, a connection to the 110 kV transmission network, and a nearby facility for operating the energy park. The start of construction works is planned for the first quarter of 2025, with commissioning scheduled for 2026.

Grzegorz Zieliński, EBRD Head of Energy Europe, said the Korlat solar park underscores the pivotal role of renewables as a sustainable pathway for replacing fossil fuels.

The project will contribute significantly to the country’s achievement of its renewable energy targets by 2030, he added.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

serbia solar wind 2025 projections

Serbia to add 138 MW in solar, wind in 2025

21 February 2025 - The estimated capacity of prosumers is 123.6 MW, out of which 43 MW would be new photovoltaics, according to the energy balance

Energy industry confidence in net-zero goals sinks EIC report

Energy industry confidence in net zero goals sinks – report

21 February 2025 - Energy industry confidence in reaching net zero targets is fading, according to Net Zero Jeopardy Report II by the Energy Industries Council

EU renewables role Vision for Agriculture and Food

EU acknowledges renewables role in Vision for Agriculture and Food

21 February 2025 - Green energy and energy communities are beneficial for farmers, the European Commission said in its Vision for Agriculture and Food

Kosovo four applications wind power auction

Kosovo* receives four applications for wind power auction

21 February 2025 - German, Kosovar, French and Turkish companies submitted documentation to qualify for the first wind power auction in Kosovo*