Renewables

HT, Professio Energia ink first corporate PPA in Croatia

HT Profession Energia ink first virtual PPA in Croatia

Photo: HT

Published

May 27, 2023

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Published:

May 27, 2023

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Hrvatski Telekom and Professio Energia have signed the first corporate power purchase agreement (PPA) in Croatia. Consulting company PwC Croatia advised HT in the talks.

Hrvatski Telekom (HT) said it has signed a ten-year virtual corporate PPA, the first such contract in Croatia, under which 50 GWh per year of electricity from renewables will be produced by a wind farm planned to be built at the location of Mazin Gračac.

The telecommunication system operator said it would support the production and supply of renewable electricity from the local market over the duration of the contract.

“This is an important milestone in our energy strategy and a confirmation of the commitment to lead Hrvatski Telekom responsibly and proactively on the path to a sustainable future, and at the same time it is an important step forward for the Croatian green energy transition,” HT CEO Kostas Nebis said.

Professio Energia: It is an opportunity for companies to manage energy costs and meet ESG goals

Professio Energia said its subsidiary Liburana concluded the first virtual PPA deal in Croatia, with HT. The contract stipulates that Liburana and Professio Energia would build the Mazin Gračac wind farm with an annual production of 50 GWh.

“We strongly believe that by signing this first corporate PPA in Croatia, we have together opened a new business model for renewable energy sources in Croatia. Such a model will certainly help companies in the long-term management of energy costs as well as in the achievement of their key ESG indicators,” the company said.

Prosessio Energia has also emphasized the important role of its shareholders and investors, pension funds Erste and PBZ Croatia Osiguranje, and insurance company Croatia Osiguranje. According to the company, the contract demonstrates that institutional investors in Croatia can and should take a strong investment role in the energy transition, as highlighted in Croatia’s energy strategy.

PwC Croatia: It is an introduction of a new business model in Croatia

PwC Croatia said it is pleased to participate in encouraging green trends and the creation of new business models in Croatia.

Mislav Slade-Šilović, PwC’s consulting leader in energy, utilities and resources for South East Europe, congratulated HT and Professio Energia on the pioneering move of introducing a new business model in Croatia.

Of note, in March, Swiss renewables producer and trader Axpo said it signed a 10-year virtual PPA with Kunovac, a joint venture of Finnish renewable energy fund manager Taaleri Energia and local developer Encro.

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