InterCapital is pleased to announce that our Investment Banking team has acted as the exclusive sell-side advisor to Akuo Energy, a global renewable energy producer, in the sale of Elektrana Grubišno Polje, a 5 MWe biomass CHP plant in Croatia, along its adjacent drying facility, to Ancala, a leading independent infrastructure manager.
Elektrana Grubišno Polje is a 5 MWe biomass CHP plant located in Grubišno Polje, Croatia. The plant started commercial operations in May 2019 under a 14-year PPA with state-owned market operator HROTE. Its adjacent drying facility Sirocco consists of 20 kilns with a heat recovery system installed on the roof and an effective capacity of 1,800 m3 (with gross capacity being 2,500 m3), providing its drying services to local companies operating in the wood processing industry.
This transaction provides an exit from the biomass sector for Akuo Energy and an opportunity to refocus on its core solar, wind, and storage businesses. For Ancala, Elektrana Grubišno Polje becomes the second biomass CHP plant in their Central and Eastern European EU Renewables Platform, the first being a 5 MWe biomass plant in Gospić, Croatia.
