HEP to invest $114 million into solar power plants by 2023

Croatian power company Hrvatska elektroprivreda (HEP) will invest HRK 750 million ($114 million) by 2023. According to the company, PV plants Kaštelir, Cres, Vis and Vrlika Jug, of the total capacity of 11.6 MW and the value of HRK 80 million ($12 million) are the first four solar power plants »in a big investment cycle.« The construction of solar power plant Vis will start this month. This project was taken over by HEP in December 2018 from the company Koncar OIE, and HEP Proizvodnja will construct the solar power plant Vrlika Jug in the second half of 2019. Furthermore, HEP plans integrated solar power plants’ projects on the HEP-owned buildings.
»By 2030 we are planning to realize the projects of solar power plants with the total power capacity of 350 MW,« said Frane Barbaric, the President of the Management Board of Hrvatska elektroprivreda d.d.. In the forthcoming five-year period the average of HEP’s investments into solar power plants will amount to HRK 150 million ($22 million) per year, meaning HRK 750 million by the end of 2023, which on average enables the construction of additional 20 MW of solar capacities annually.
The power plants Vrlika Jug, Cres and Vis will generate electricity without PPA with the Croatian Energy Market Operator regarding power purchase at an incentive price. »Solar power plants on the islands of Cres and Vis will contribute to the strengthening of infrastructure, for the purpose of tourism development, since the electricity generation will be the highest when needed most« during the tourist season. All four power plant projects were prepared through cooperation of HEP and its partners, local and regional government units and companies.

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