The European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) have signed loan agreements with Croatia’s state-owned utility, Hrvatska elektroprivreda (HEP), to fund the construction of a 99 MW solar power plant.
The financing totals €62m, with €31.6m provided by the EBRD and €30.4m by the EIB.
The solar facility will be constructed near the village of Korlat in southwestern Croatia, adjacent to a 58 MW wind farm established in 2021.
HEP has announced plans to combine the two sites into a hybrid energy project, and construction is scheduled to begin in the first quarter of 2025. Commissioning is expected in 2026.
According to Grzegorz Zielinski, EBRD’s head of energy for Europe, this project will be the largest solar plant in HEP’s renewable energy portfolio. To date, the EBRD has invested over €4.7 billion in Croatia through 252 projects.
Croatia added 238.7 MW of solar capacity in 2023, as reported by RES Croatia.
