Luxembourg-based investment fund PEARL Infrastructure Capital is the new owner of a 5 MWe biomass cogeneration plant in Croatia.

Energy service company Resalta has sold its biomass cogeneration plant in the Croatian municipality of Slatina. According to the company, the transaction is one of the largest foreign investments in the biomass renewables sector in Croatia.

The Slatina biomass plant was sold through Energy 9, the Resalta subsidiary that owned the powerplant in partnership with Iskraemeco, Resalta said on its website.

The plant has a long-term electricity offtake contract signed with HROTE

Resalta has designed and constructed the plant, which was officially put into operation in June 2019. The electric capacity of the plant is 5 MW, while the heat capacity reaches 12 MW.

The plant has a long-term electricity offtake contract signed with the Croatian Energy Market Operator (HROTE). It generates 40 GWh of electricity each year.

PEARL Infrastructure Capital provides turnkey financing solutions for industrial clients and municipalities in the EU

PEARL Infrastructure Capital’s fields of activity include renewable energy (based on biomass, refuse-derived fuel or RDF, and waste), waste valorization and recycling, and water and wastewater cycle management. It provides turnkey financing solutions for industrial clients and municipalities in Europe, according to the investment fund’s website.

Resalta revealed it would use funds from the sale to explore and develop further projects in the field of renewables in the region.

The Slatina cogeneration plant was fully designed and built by local teams, using Croatian suppliers and subcontractors, the company said.