RP Global has officially launched its inaugural solar project in Croatia, the 21 MW Novalja solar plant located on Pag Island. This development signifies a strategic expansion into the Croatian renewable energy sector, following the company’s previous investments in wind energy back in 2016.
The Novalja project commenced commercial operations roughly one year after construction began, illustrating RP Global’s commitment to enhancing its renewable portfolio in the region. The company had divested its earlier wind farm projects in late 2021, marking a pivotal shift back towards long-term infrastructure ownership.
Financial backing for the Novalja solar plant was facilitated by the European Bank for Reconstruction and Development (EBRD), which provided €12.2 million to support the project’s transition from construction to operational status. This financial support underscores the role of international financing institutions in advancing renewable energy initiatives within Southeast Europe.
Several international firms collaborated on the project, with engineering services supplied by Bosnia-based Elnos Group. Spain’s Solar Steel was responsible for providing the mounting structures, while LONGi Solar delivered the solar modules and Huawei contributed inverter technology. This collaboration highlights the cross-border partnerships essential for successful renewable energy projects.
As commercial operations commence, the Novalja solar plant is set to benefit from market premium incentives as part of Croatia’s 2024 renewable energy auction. This regulatory framework is designed to encourage investment and increase renewable generation capacity within the country.
The commissioning of this solar facility not only enhances Croatia’s renewable energy generation capabilities but also re-establishes RP Global as a significant player in the local energy market, positioning it strategically for future growth amidst evolving energy policies and market dynamics.
