Athens-based EuroEnergy, a subsidiary of industrial conglomerate Libra Group, with headquarters in the UK, has acquired a 114 MW wind farm project in Croatia.
The wind farm is located in the Udbina municipality of Lika Senj County. The county, on the coast of the Adriatic Sea, is already home to Croatia’s largest wind farm – Senj, built by Norinco.
The total cost of the project’s development and construction is over EUR 150 million, EuroEnergy said on its website. The deal will expand the operation of the firm to the third EU country, after Greece and Romania. Now the company has a 200 MW portfolio.
With a potential capacity extension of 70.5 MW, wind park in Udbina is set to be the first of such scale in Croatia since the country’s entering the Eurozone on January 1, 2023.
Boris Katić: The wind farm supports and promotes the local communities in this remote region
EuroEnergy intends to establish an office in Croatia, hire local staff, and contract local companies for the development and construction of the wind park. The firm said it will use cutting-edge technology to supervise, construct, and operate the project.
Boris Katić, one of the three owners and original developer of this project, has said he is pleased to welcome EuroEnergy and their team as a strong and experienced partner on the project.
Located in the triangle between three national parks – Plitvice, Paklenica and North Velebit – the wind farm is a welcome contributor to supporting and promoting the local communities in this remote region, Katić said.
EuroEnergy will include the local communities in the entire process.
EuroEnergy Chief Executive Officer Fanis Mermigkousis said that Croatia was a market with enormous potential and a growing domestic renewable energy sector. He added the firm would integrate the local communities in the entire process.
Our work is helping to ensure that Southern and Eastern Europe are part of the renewable energy transition, and we will continue to explore new geographies that advance the sector.”
According to Antonis Menegas, Executive Vice President of Energy for Libra Group, the company is leveraging the insights of its network to build economies of scale.
“We look forward to following EuroEnergy’s progress as our Group continues to advance a pan-European renewable energy platform,” he added.