The European Bank for Reconstruction and Development (EBRD) is providing a significant loan of up to €31.6 million to Hrvatska Elektroprivreda d.d. (HEP), the national energy company of Croatia, to fund a key renewable energy project. This loan will specifically finance the construction and operational setup of a solar power plant, known as the “Korlat” project, with an installed capacity of up to 99 megawatts (MW).
The Korlat solar power plant will play a central role in advancing HEP’s broader decarbonisation strategy. By utilizing solar energy on such a scale, the project is expected to reduce Croatia’s carbon dioxide (CO2) emissions by approximately 28,899 tonnes annually. This makes it a crucial initiative in the country’s efforts to shift away from fossil fuels towards more sustainable and environmentally friendly energy sources.
Grzegorz Zielinski, Head of Energy Europe at EBRD, emphasized the importance of this project for Croatia’s renewable energy landscape: “We are very proud to support HEP, Croatia’s national power utility, in advancing its renewable energy investments in Croatia. This project, set to become the largest solar power plant in HEP’s renewable energy portfolio, underscores the pivotal role of renewables as a sustainable pathway for replacing fossil fuels. The Korlat solar power plant will contribute significantly to the country’s achievement of its renewable energy targets by 2030. With this investment, we reaffirm our commitment to supporting the country’s decarbonisation agenda.”
HEP, a joint-stock company fully owned by the Republic of Croatia, has been integral to the country’s energy sector. Its key functions include electricity generation, transmission, and distribution, as well as the provision of district heating and gas distribution services across Croatia. The Korlat solar plant is poised to enhance HEP’s renewable energy capabilities, marking an important milestone in Croatia’s energy transition.
The EBRD has been a leading force in climate finance across its regions of operation. In Croatia alone, the Bank has invested over €4.7 billion across 252 projects, with a major share of these investments directed towards promoting a green economy. By supporting projects like Korlat, the EBRD continues to solidify its commitment to sustainable development and the global fight against climate change.
 has granted a €31.6 million loan to Hrvatska Elektroprivreda d.d. (HEP) for the construction and operation of the Korlat solar power plant in Croatia, aiding the country's green energy transition and reducing CO2 emissions by 28,899 tonnes annually.){kind=link}