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Croatian Reversible Hydroelectric Power Plant Seeks Strategic Partner

MCC Exclusive Real Estate and Vrdovo Reversible Hydroelectric Power Plant today presented the Vis Viva project worth one billion euros, which includes the construction of a reversible hydroelectric power plant, a combined heat and power gas plant in Peruća, a connecting gas pipeline from Dugopolje to Peruća, and a power line from Peruća to Konjsko with a substation in TS Hrvace.

The project, which has already been presented to the local community and which, it was stated during the presentation, supports it, will be developed in a wider uninhabited area near the Peruća accumulation basin, and the initiators of the entire project are already in the phase of land acquisition.

They have so far secured 5 million euros and are about to obtain location permits, and their next step is to search for a strategic partner for whom this investment in renewable energy sources will certainly pay off, they claim. The strategic partner will come to a partially resolved project, which is just waiting for a construction permit. They state that they are ready to secure a larger share in the project for the partner who responds earlier.

In addition to recapitalization, they will seek financing from development and commercial banks, and they will also apply for all planned EU financing programs such as the Juncker Plan for Strategic Investments.

The project, which is expected to be completed by 2020, will engage between five and ten thousand workers, mostly construction subcontractors, which will positively impact the development of the entire economy, they concluded.