EBRD, NIB agree loans to support green energy in Croatia
The European Bank for Reconstruction and Development and European Investment Bank have agreed loans totalling €130 million to finance investments in new electricity and heat cogeneration units in Zagreb to replace outdated oil and gas-fired turbines and boilers.
The financing will be split between the EBRD with a €87 million loan and EIB with €43 million. The project will be implemented at Elektrana-toplana Zagreb, a power plant fully owned and operated by HEP Group. A special feature of the financing is that the EIB loan will be guaranteed by the European Fund for Strategic Investments part of the European Commission's Investment Plan for Europe.
The proceeds will be used for the installation of two low-NOx gas turbines, two heat recovery steam generators and one back pressure steam turbine producing heat and electricity at the Elektrana-toplana combined heat and power plant close to the centre of Zagreb. The capacity of the new combined cycle gas turbine units will be 150MW of electrical energy and 114MW of thermal energy, with lower greenhouse gas emissions.
The project will be implemented at Elektrana-toplana Zagreb, a power plant fully owned and operated by HEP Group.
