HEP announces ambitious plans regarding grid investments
In the period from 2018 to 2021, HEP Group aims to invest around €780 million (HRK 5.8 billion) in the electricity network of the Croatian power system. Approximately €540 million (HRK 4 billion) is to be invested in the distribution grid and more than €240 million (HRK 1.8 billion) is earmarked for investments in the transmission network. Out of the €780 million, HEP plans to invest over €160 million (HRK 1.2 billion) in the electricity network and renewable energy projects in coastal areas and islands. HEP also announced intentions to invest in the construction of photovoltaic power plants up to 10 MW of installed capacity. In the meantime, an investment of €500 million (HRK 3.7 billion) is being prepared for the construction of HPP Kosinj and the upgrade of the hydroelectric power plant Senj. HEP already signed an agreement on the purchase of the solar power plant project on the island of Cres and has started developing another similar project on the island of Hvar.