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HEP investing in generation portfolio

By 2028, Croatian state owned utility HEP aims to complete the €487 million (HRK 3.6 billion) revitalisation cycle of its hydro power plant (HPP) generation portfolio. At present, €190 million (HRK 1.4 billion) has already been invested.

During the course of 2019 works:

  • will continue on Ozalj (5.5 MW) and Gojak (55.5 MW);

  • should be completed on Zakučac (486 MW), Dubrovnik (252 MW) and Fužine (4.6 MW);

  • will begin on Varaždin (94 MW) and Senj (216 MW).

The revitalisation effort will increase the overall installed capacity of hydropower plants by an additional 160 MW. HEP also revealed its strategy up to 2030, underlining a goal of increasing its share of renewable energy from 35% to 50%. This objective is planned to be achieved through:

  1. increasing the power and production of existing hydroelectric power plants;

  2. building new hydroelectric power plants;

  3. investing in other renewable energy sources.

In line with its investment policy, in 2019, HEP plans to invest over €80 million (HRK 600 million) in solar and wind power plant projects. Currently, there is a tender for the construction of the solar power plant Cres (6.5 MW) and negotiations are under way on the takeover of solar power plant project Vis (2 MW). Additionally, two undisclosed wind farm projects and yet another solar power plant is being considered.

Source: HEP

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