- HROTE initiates public tender for 607 MW in renewable energy projects.
- Submissions are accepted until June 27, 2024, following April’s bid collection phase.
- Projects eligible for up to EUR 30 million in market premiums; technologies include wind, solar PV, and hydropower.
HROTE, Croatia’s energy market operator, has launched a public tender to support renewable energy projects totalling 607 MW in capacity. The tender began on Wednesday and will accept submissions until June 27, 2024.
This is due to an earlier call in April that sought bids for participating in allocating market premiums. These premiums play a crucial role in bridging the gap between the reference value and the market price of electricity. That forms a pivotal aspect of the initiative to incentivise renewable energy development.
The tender invites projects utilising wind, solar photovoltaic (PV), and hydropower technologies to compete across two capacity categories. Maximum reference prices per megawatt-hour (MWh) range from EUR 67.05 (USD 71.71) to EUR 158.30. Successful projects stand to receive up to EUR 30 million each in market premiums.
HROTE’s initiative represents a significant advancement in Croatia’s renewable energy objectives. It aligns closely with national strategies aimed at diversifying energy sources and reducing reliance on traditional fuels. It underscores Croatia’s commitment to expanding its renewable energy sector while enhancing energy security and sustainability goals.
The exchange rate for the tender is fixed at EUR 1.0 = USD 1.070, providing clarity for international stakeholders interested in participating in Croatia’s renewable energy market. This transparent exchange rate is expected to attract diverse participants. Including local developers and global firms looking to capitalise on Croatia’s supportive regulatory environment for renewable energy investments.
This initiative by HROTE aims to bolster Croatia’s renewable energy capacity and signal the country’s proactive stance in achieving its climate targets. Croatia seeks to accelerate the transition towards a more sustainable energy landscape by incentivising projects across multiple renewable technologies, ultimately contributing to broader European and global efforts in combating climate change.
HROTE’s public tender for renewable energy projects is poised to stimulate significant investment and innovation in Croatia’s energy sector. With clear incentives and competitive terms, the tender sets a robust framework for fostering the region’s diverse and resilient renewable energy market.