Petrol to invest into three large solar power plants with a total installed capacity of 22 MW, expected electricity generation of 29 GWh in Knin, Croatia with an estimated value of EUR 17m, and the expected start of operations in 2023.
Yesterday, Petrol announced that it would invest in solar power plants in Knin, Croatia. This investment would mean the installation of three large solar power plants with a total installed capacity of 22 MW and an expected electricity generation capacity of 29GWh. These power plants would be the following: Suknovci, with 10 MW of installed capacity, Pliskovo, with 6.3 MW of installed capacity, and Vrbnik, with 5.7 MW of installed capacity. The total investment value is estimated at EUR 17m, and the plants should start operating in 2023.
This is all part of Petrol’s energy transition towards being a low carbon company. This strategy includes the development of new technologies and changing the ways of how energy products are made, sold and used. The Company’s aim is to become a key link in a broader ecosystem by offering energy sources that are adapted to and co-shape the market.
The Company’s commitment to making a transition to green energy is also seen in its strategy for the period of 2021-2025, in which the Company said it will reserve 35% of its total investment potential of EUR 698m for investments in energy transition, the majority of which will be investments in energy generation from renewable sources.
As a reminder, Petrol has been present in the field of renewable electricity generation for some time now, operating 2 wind power plants, 30 small solar power plants, and 6 small hydropower plants. This means that as of the end of 2021, Petrol’s total installed capacity for renewable electricity generation amounted to 68.9 MW.