EBRD provides $43.6 mln for two wind farms in Croatia
16/08/2022 14:59
SARAJEVO, Aug 16 (Reuters) - The European Bank for
Reconstruction and Development will lend 43 million euros ($43.6
million) for the construction of two wind farms in Croatia to
boost electricity generation from renewables by more than 10%,
the EBRD said on Tuesday.
The wind farms, due to be built in the southwestern Zadar
region, will have a total grid capacity of 111 megawatts (MW),
enough to power 85,000 households and help avoid more than
78,000 tonnes of CO2 emissions annually, the bank said.
The lender extended loan to Kunovac, a limited liability
company jointly owned by Taaleri Energia's SolarWind II Funds
and ENCRO Kunovac, for the first utility-scale renewable project
in Croatia developed outside of a renewables subsidy scheme.
Taaleri Energia is part of the Finish investment company
Taaleri Group.
The EBRD financing will be complemented by parallel loans
from Zagrebacka Banka and the Croatian Bank for Reconstruction
and Development for a total debt financing package of 126
million euros.
The EBRD said its first wind-farm investment in Croatia
showcases a novel financing structure in the country, combining
a corporate power purchase agreement and merchant-based
financing structure.
It will help Croatia to make progress towards its 2030
environmental targets and COP26 commitments, which envisage an
increase in the share of electricity generation from wind and
solar from 14% in 2020 to 27%, it said.
($1 = 0.9865 euros)
(Reporting by Daria Sito-Sucic; Editing by David Evans)
((daria.sito-sucic@thomsonreuters.com; +38733 295 484; Reuters
Messaging: daria.sito-sucic.thomsonreuters.com@reuters.net))