Oil and gas company Petrol Group intends to invest EUR 17 million in three solar power plants near the town of Knin in the southern part of Croatia.
The investment in solar photovoltaic facilities is part of Petrol’s commitment to the transition to green energy. The company plans to allocate 35 percent of the total investment portfolio of EUR 698 million for investments in energy transition over the period 2021-2025, and the largest part will be invested in renewable energy.
The supervisory board of Petrol gave its consent to the management board to invest in solar power plants near the city of Knin in Croatia, the company said on its website.
The installed capacity of the PV facilities is 22 MW with expected electricity production of 29 GWh. The start of production is planned for early 2023.
According to the company, the development of projects for the first three large solar power plants was finished in 2021. The investment includes 10 MW Suknovci power plant, 6.3 MW Pliskovo PV facility, and 5.7 MW Vrbnik power plant.
The Petrol Group has a total installed capacity of 68.9 MW for the production of electricity from renewables
At the end of 2021, the Petrol Group had a total installed capacity of 68.9 MW for the production of electricity from renewable energy sources. It operates 2 wind farms, 30 smaller solar power plants and 6 small hydropower plants. The facilities are located in BiH, Croatia, and Serbia.
Wind farms Glunča and Ljubač are in Croatia. Five SHPPs: Jeleč, Jezernica, Mujakovići, Majdan, and Botun are in BiH, while one – Grajići, is in Serbia.
Nada Drobne Popović, President of the Management Board of Petrol, said that the installation of the three solar power plants near Knin is Petrol’s response to the increased electricity needs.
“Investment in three PV facilities is a step in achieving our target to have 160 MW of installed capacity in renewable energy sources by the end of 2025,” said Janez Žlak, chairman of the supervisory board.