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RWE teams up with HEP to tap on renewables’ potential

July 2, 2015 | Comments: 0Author:

Novenerg, a 50-50 joint venture aiming to exploit the potential of renewable energy sources, was founded on July 1 by Germany’s RWE AG and Croatia’s national electricity company HEP Group. The project was started in order to strategically evaluate and analyse potentials of investment in power generation in the sector, with a focus on Southeastern Europe’s markets, HEP said.

The venture, headquartered in Zagreb, will look at acquisitions and develop decentralized projects. It’s field of operation includes waste-to-energy and increasing efficiency in existing facilities, two companies said.

„After almost twenty years of cooperation in building and managing Plomin 2 thermal power plant, we concluded what was an exceptionally successful partnership, but exiting Plomin the RWE isn’t leaving Croatia. That is why we founded a venture company through which we will together explore the possibilities to invest in renewable energy sources in Southeastern Europe,“ said RWE Croatia’s CEO Karl Kraus (pictured left), who signed the agreement with HEP’s CEO Perica Jukić (right). RWE’s role will be, above all, to to provide strategic consulting, because of the group’s great experience throughout Europe, Kraus added.