- Austrian investor Conex Invest Finanzierungs plans to invest in a 60 MW AC utility scale solar power plant in Croatia
- It will be deployed in Martinska Ves municipality and come up with 207,300 solar panels
- Of the total investment of €75.6 million it is expected to cost, some part will be funded by EU funds
Croatia is set to host a 68.4 MW DC/60 MW AC ground mounted solar power plant called MVES 60 and will have Austrian investor Conex Invest Finanzierungs investing in it through local firm Photo Volt, according to a report by Balkan Green Energy News.
The project will be located on 65-hectare space in Martinska Ves municipality of Sisak-Moslavina county of Croatia with 207,300 solar PV panels deployed, as per the report, and is expected to cost a total of €75.6 million ($92 million). Part of this will be invested from the European Union (EU) funds.
Conex Invest expects construction on the plant to take 48 months to complete following which it will be connected to the grid of Croatian Transmission System Operator (HOPS), and anticipated to generate close to 77 GWh annually. The project partners have hired local firm Microstar to prepare project documentation and perform construction works.
Once the 60 MW AC facility is up and running, it is expected to generate annual revenues of €4.98 million during its lifetime of around 30 years.
According to the report, Croatia’s current installed solar power capacity is 100 MW and it aims to grow it to 1 GW. In March 2021, the energy transition council of Croatia said the country has the potential to achieve 6.8 GW of solar power capacity comprising 5.3 GW for utility scale projects, and 1.5 GW of rooftop solar systems.
In February 2021, Croatian Economy Minister Tomislav Coric announced his country will launch 400 MW renewable energy auction, mainly for large scale solar and wind energy projects, but did not provide any specific timeline (see Croatia To Hold 400 MW Renewable Energy Auction).