Croatia's HEP national electricity provider on Monday presented a new investment cycle in solar power plants valued at HRK 750 million with the first investments to be made in the Kastelir, Cres, Vis and Vrlika Jug plants with a total power of 11.6 megawatts (MW) and a value of HRK 80 million.
HEP management board chair Frane Barbaric said that under the big investment scheme the company would invest HRK 750 million by 2023 or HRK 150 million a year for that prupose.
Of the four above-mentioned facilities, the Sabadin plant, which will now be renamed to Kastelir has been already purchased from the former owner.
Barbaic said that it is expected that by 2030 the power plants will produce 350 MW, which is seven times more than the power currently produced by all the solar power plants in Croatia.
He added that HEP has launched a strong investment cycle in renewable energy sources and that in addition to solar plants, investments will be made in hydro-electricity power plants, wind farms and other renewables. Thus, HEP plans to start building its first wind farm this year.
Barbaric mentioned that HEP's plan to construct solar power plants on the tops of its buildings with a power of 2.1 MW, a project estimated to cost HRK 13 million.
Environment and Energy Minister Tomislav Coric said that the main focus of Croatia's Energy Strategy by 2030 is renewable energy sources.
We have huge energy potential from the sun and wind, Coric said and added that this year the ministry will subsidise "solar plants" on household roofs. This is a good investment and proof that Croatia is concerned with environment protection, he added.