Woodburn Capital Partners Begins Construction on Two New Solar Power Plants in Croatia

The ceremonial laying of the foundation stone on July 11 and 12 of this year will mark the beginning of construction on future facilities for the production of electricity from renewable sources in Croatia. The Czech company Woodburn Capital Partners will build a power plant with a capacity of 10 MW in Brdovec near Zagreb and a power plant with a capacity of 3 MW in Stankovci in the Zadar County. After construction, the company will also manage their operations.

The management of the company is actively working on concluding long-term power purchase agreements (PPAs) with large corporations in the region for both projects. Specifically, discussions are underway with users within the Brdovec business zone, a leading hotel company that manages a network of hotels, and blue-chip energy trader, among others.

The Mayor of the Municipality of Brdovec Alen Prelec welcomed the construction of the renewable energy power plant.

– As our business zone attracts more and more large corporate and industrial partners like Pliva and Pfizer, expectations are growing that the available infrastructure should also include renewable energy sources – emphasized Prelec.

Examples of corporations that have a clear stance on using renewable energy in Brdovec are Pfizer and Pliva. The company Pfizer currently uses about six percent of the electricity it consumes worldwide from renewable sources. The goal is for all their purchased electricity to come from renewable sources by 2030. Pliva is also heavily involved in procuring renewable energy, and this year it has already launched a power plant with a capacity of 9.71 MW at its facility in Savski Marof.

The Head of Development at Woodburn Capital Partners Mirko Meděnica explained the philosophy behind their approach to investing in renewable energy.

– Unlike many other players in the renewable energy market, we have adopted a vertical integration approach, from finding locations, obtaining all necessary permits, and complying with regulatory requirements, to finding future PPA signatories, constructing power plants, and managing their operations. Our team consists of experienced professionals with proven results in project management from the initial idea and preparation to actual implementation, which includes development, financing, and operations – said Meděnica.

Woodburn has already completed five similar projects and has invested more than 75 million euros in biomass and solar energy projects to date. Its goal is to become a leading developer and operator in the field of renewable energy in Central and Eastern Europe and Southern Europe, and it is currently considering business opportunities in neighboring Bosnia and Herzegovina. The plan is to develop a pure-play platform for renewable energy dedicated to the global energy transition in the region. Additionally, the company aims to invest in new projects and continues to evaluate projects with wind and solar plants as well as energy storage facilities in Central and Eastern Europe and Southern Europe.

– It is crucial for governments to support the renewable energy sector – emphasized the Chief Financial Officer of Woodburn Chris Kottnauer.

– The Government of the Republic of Croatia is leading the trend as it has adopted the long-awaited regulation on the criteria and conditions for issuing energy permits, which simplifies administrative procedures and opens the door for further growth of the renewable energy sector. Furthermore, the regulation provides the necessary level of transparency and stability for operators and investors in the renewable energy sector, thereby further strengthening the sector as a whole – added Kottnauer.