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