July 13, 2023 – Woodburn Capital Partners, a Czech company specializing in investments in renewable energy will build two new solar power plants in Croatia. One with a capacity of 10 megawatts (MW) in Brdovac near Zagreb, and another with a capacity of 3 MW in Stankovci in Zadar County, the company announced on Tuesday.
The start of work on future plants for the production of electricity from renewable sources was marked by the laying of the foundation stone on July 11 and 12, writes 24Sata.
The management of the company, it is stated, is actively working on concluding long-term contracts for the purchase of electricity with large corporations in the region for both projects.
The Mayor of Brdovec Municipality, Alen Prelec, welcomed the construction of a renewable energy power plant. He pointed out that their business zone is attracting more and more large corporate and industrial partners such as Pliva and Pfizer, and that there are increasing expectations that the available infrastructure should also include renewable energy sources.
The Company Building Solar Power Plants in croatia
Woodburn Capital Partners Development Manager Mirko Meděnica explained the philosophy behind their approach to investing in renewable energy. He emphasized that unlike many other players in the renewable energy market, they have adopted a vertical integration approach. They take care of the process from finding locations, obtaining all the necessary permits, and harmonizing with regulatory requirements. Their scope also includes finding future signatories of PPA contracts, building power plants and managing their operations.
Woodburn has already realized five similar projects and to date has invested more than 75 million euros in biomass and solar energy projects. Its goal is to become a leading developer and operator in the field of renewable energy in the regions of Central and Eastern Europe and Southern Europe. It is currently considering business opportunities in neighboring Bosnia and Herzegovina.
Woodburn’s chief financial officer Chris Kottnauer says it is crucial that governments support the renewable energy sector.
“The Government of Croatia is leading the trend by adopting the long-awaited regulation on criteria and conditions for issuing energy permits, which simplifies administrative procedures and opens the door to further growth of the energy sector from renewable sources. In addition, the regulation provides the necessary level of transparency and stability operators and investors in the field of renewable energy and thereby further strengthens the sector as a whole,” said Kottnauer.
