Israeli energy firm Enlight has signed an agreement for the acquisition and joint development of a 525MW portfolio of renewable energy - wind and solar - in Croatia.
Image credit: fokke baarssen / Shutterstock
The farms, of which there are five, all in varying stages of development, will be completed by the company to start operations at some point between 2023 and 2025.
It has been reported that this is one of the largest renewable energy projects in Croatia and will help Enlight diversify its offering in the nation.
According to a report by the International Trade Administration, renewables make up 28% of the country's energy mix, with over 50% of all its energy needs being imported. Switching to renewables could help it reduce its reliance on imports, but the Croatian government will need to spend roughly $1.4 billion (€1.36 billion) on grid modernisation to allow for this.
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By 2050, it is hoped that 66% of the country's electricity generation could be gained from renewables. The nation is currently on of the European leaders in solar energy.
Enlight itself already owns a 1.2GW portfolio of renewable energy between Hungary, Kosovo, Serbia and Croatia, including 316MW of operational projects.
The firm was founded in 2008 and is traded on the Tel Aviv stock exchange. It currently operates in its native Israel and across Europe.
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