The European Bank for Reconstruction and Development (EBRD) is providing a loan of up to nearly €32m to finance the construction of a solar farm in Croatia.
The bank is providing the funding to Hrvatska Elektroprivreda (HEP), Croatia’s national energy company, to finance the construction and operation of a solar power plant with installed capacity of around 100MW.
The project will support HEP’s decarbonisation plans.
Grzegorz Zielinski, EBRD Head of Energy Europe, said: “We are very proud to support HEP, Croatian national power utility, in advancing its renewable energy investments in Croatia.
“This project, set to become the largest solar power plant in HEP’s renewable energy portfolio, underscores the pivotal role of renewables as a sustainable pathway for replacing fossil fuels.
“The Korlat solar power plant will contribute significantly to the country’s achievement of its renewable energy targets by 2030. With this investment, we reaffirm our commitment to supporting the country’s decarbonisation agenda.”
HEP is a joint stock company fully owned by the Republic of Croatia.
Main activities include the generation, transmission and distribution of electricity, plus the provision of district heating and gas distribution services throughout the country.