CROATIA: FROM INCENTIVES TO PREMIUMS UNTIL RENEWABLE ENERGY TARGET IS REACHED / CROATIA / AUTHOR: BALKAN GREEN ENERGY NEWS
Author: Maja Pokrovac, Managing Director at Renewable Energy Sources of Croatia (RES Croatia)*
With its 36.4% renewable energy target, set under its National Energy and Climate Plan (NECP), Croatia is one of the most ambitious EU member states. This sends a clear signal to investors that the country seeks to fully utilize its natural renewable energy potential.
This year, Croatia is in the process of adopting its new Energy Strategy, which notes the country’s strong renewable energy potential, of 8,000 MW to 9,000 MW for solar and wind energy each. Given that slightly over 800 MW of renewable energy facilities have been built so far, with 152 MW more under construction, this potential has served since 2013, when the last project was signed under the incentive model, as motivation to develop new 600 MW of projects whose construction awaits the launch of the premium model announced for late 2019 or early 2020. These new projects envisage more than EUR 700 million in fresh investments.
RES Croatia proposes new quotas
Based on the draft Low-Carbon Development Strategy and the draft Energy Strategy of Croatia, as well as an analysis of new planned RES projects, Renewable Energy Sources of Croatia (RES Croatia) proposes a quota matching the pace envisaged under the draft strategic documents, which is a minimum compared to the EU level data showing that 95% of newly installed power generation in 2018 was based on renewables.