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European Investment Bank to finance solar power projects in Croatia

European Investment Bank finance solar power Croatia

Photo: Sungrow EMEA on Unsplash

Published

May 14, 2021

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Published:

May 14, 2021

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The European Investment Bank will expand its activities in Croatia to include solar power plants, country head Anton Kovačev said. It already finances renewable energy project in the country.

Following a memorandum of understanding with Croatia’s Ministry of Economy and Sustainable Development from January, Head of the European Investment Bank’s Office in Zagreb Anton Kovačev revealed a contract would soon be signed for financing solar power plants. He told national broadcaster HRT the EIB wants to help the government, state-owned electricity producer Hrvatska elektroprivreda (HEP Group) and other companies to “think green.”

They should look for renewable energy sources and invest in them, Kovačev asserted. “We need to promote energy efficiency and work on it so that we pollute the environment as little as possible while being the most efficient that we can,” he said and added a seminar would soon be held for everyone who is interested in green investments.

The European Investment Bank will organize a seminar for everyone who is interested in green investments.

The EIB’s official noted the lender, owned by the European Union’s member states, already has projects in the country for energy efficiency and renewables such as waste incinerators and wind power plants.

The bank said on the occasion of the signing of the memorandum that together with the government it would tap on funds from the European Green Deal including the Just Transition Fund. The EIB will work with Croatia on the implementation of the country’s Integrated National Energy and Climate Plan and National Recovery and Resilience Plan, according to the statement.

The cooperation agreement leans on funds from the European Green Deal including the Just Transition Fund

The domestic economy has suffered a severe blow from the COVID-19 pandemic and two devastating earthquakes.

Among other endeavors, the EIB is participating in the construction of a gas-fired combined heat and power (CHP) plant in Zagreb and it provided loans to Rimac automobili and Resalta.

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