HEP investing in solar

HEP announced an investment cycle in its generation portfolio of around €100 million during the next 5 years. The company’s plan is to install 20 MW for each of the next five years. Additionally, by 2030, HEP plans to run a solar power plant portfolio of 350 MW. As things currently stand, these units will not necessarily be subsidized by the Croatian energy market operator (HROTE). It remains to be seen how these ambitious plans will be met in practice.

HEP 2030 development strategy entails hydro, wind, solar and cogeneration projects that should add 1500 MW of installed capacity to its existing portfolio.

Croatian state owned utility HEP announced ambitious plans regarding the development of its solar generation portfolio. The company identified its first four solar power plant projects: Kaštelir, Cres, Vis and Vrlika Jug. They will have a combined output of 11.6 MW and are estimated to cost just below €11 million. HEP also plans to install 2.1 MW of solar units across the rooftops of its buildings.

In addition to preparing solar investments, HEP also started to buy solar power plant projects. Most of these projects are in the development phase, but there are exceptions. For instance, the 1 MW solar unit already in operation in Kanfanar bought from the Croatian based manufacturer of photovoltaic panels, Solvis.

Source: HEP, EPLL