EBRD supports green transition in Croatia - Over 12 million euros for a 21 MW photovoltaic plant
The European Bank for Reconstruction and Development continues to support Croatia's transition to green energy. The EBRD has provided a loan of up to 12.2 million euros to the private company RP Global Novalja, which will build a solar plant in the country.
The project has been approved under the EBRD’s InvestEU Framework for Sustainable Transition, reflecting the bank’s commitment to accelerating the transition to renewable energy in the countries where it operates. The loan is structured in two tranches: one worth up to €7.2 million, and the other up to €5 million; the latter, supported by a guarantee from the European Union under the InvestEU Framework.
The photovoltaic plant will add 21 megawatts of new clean energy capacity to the Croatian national energy system, helping to mitigate climate change and strengthening the role of the private sector in the field of renewable energy.
This investment comes at a time when Croatia is stepping up efforts to reduce its dependence on fossil energy sources and meet EU climate targets. The project is expected to reduce carbon dioxide emissions by around 6,400 tons per year.
Since the start of its activity in Croatia in 1993, the EBRD has invested over 5 billion euros in 272 projects, supporting reforms, advancement towards European integration and the transformation of public enterprises into more efficient structures.
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