The Korlat Solar Plant — funded by a €31.6 million loan from the EBRD — will be Croatia's largest solar power project with a capacity of up to 99 MW. It will support HEP’s decarbonisation goals by reducing CO2 emissions by around 28,899 tonnes annually and help the country meet its renewable energy targets by 2030.
Korlat Solar Plant and HEP’s Decarbonisation Goals
The European Bank for Reconstruction and Development (EBRD) is providing a significant loan to Croatia's national energy company, Hrvatska Elektroprivreda d.d. (HEP). The loan — valued at up to €31.6 million — will finance the construction and operation of the Korlat Solar Plant. With an installed capacity of up to 99 MW, the Korlat Solar Facility is poised to become the largest solar power project in HEP's portfolio.
Korlat Solar Plant (Image: Collected)
The Korlat Solar Plant will help HEP in its mission to shift away from fossil fuels. The plant is expected to cut CO2 emissions by around 28,899 tonnes per year. This reduction is part of a broader plan by HEP to transition toward cleaner energy sources and reduce its overall carbon footprint.
The EBRD loan is a key element in bringing this project to life. It will cover the costs of construction and ensure that the solar plant operates efficiently. HEP’s commitment to decarbonisation aligns with Croatia’s national energy strategy, which seeks to increase the use of renewable energy and reduce reliance on traditional power sources.
Grzegorz Zielinski, EBRD Head of Energy Europe, emphasized the importance of the project in advancing renewable energy investments in Croatia. He noted that the solar plant would be a critical part of HEP’s efforts to replace fossil fuels with clean energy. Zielinski also highlighted the plant’s role in helping Croatia meet its renewable energy targets by 2030.
Korlat Solar Plant: A Key Player in Croatia’s Green Future
The Korlat Solar Plant is not just another solar project. It represents a major shift in how Croatia generates electricity. By adding 99 MW of clean energy capacity, the plant will make a significant contribution to the country’s energy mix. This addition will help Croatia reduce its dependence on fossil fuels and move toward a more sustainable energy future.
As Croatia’s national energy company, HEP plays a vital role in shaping the country’s energy policies. The Korlat Solar Facility is a clear example of HEP’s commitment to sustainability. The company is responsible for generating, transmitting, and distributing electricity throughout Croatia. It also provides district heating and gas distribution services.
The EBRD’s support for this project is a testament to the importance of renewable energy in Croatia’s future. The bank has been a leader in climate finance across the region. In Croatia alone, the EBRD has invested more than €4.7 billion in various projects. A significant portion of this financing has gone toward promoting green energy and supporting the country’s transition to a low-carbon economy.
Croatia’s Path to Renewable Energy
The Korlat Solar Facility will play an important role in helping Croatia meet its renewable energy targets. By 2030, the country aims to increase the share of renewable energy in its total energy mix. This goal is part of Croatia’s commitment to the European Union’s climate and energy policies.
The Korlat Solar Plant will not only reduce carbon emissions but also help stabilize the country’s energy supply. By generating electricity from the sun, Croatia can reduce its reliance on imported fossil fuels. This shift will make the country more energy-independent and contribute to its long-term energy security.
The solar plant is set to become a landmark project in Croatia’s renewable energy landscape. As the largest solar power plant in HEP’s portfolio, it will serve as a model for future projects. Solar energy is expected to play an increasingly important role in Croatia’s energy system in the coming years.
The EBRD’s loan will help ensure the successful completion of the Korlat Solar Plant. The project’s impact will be felt not only in terms of reducing emissions but also in creating a more sustainable energy future for Croatia. With continued investment in renewable energy, Croatia is well on its way to achieving its decarbonisation goals and securing a cleaner and greener future for generations to come.