- Investor Jordan Alexander Oxley has acquired the Slatina 3 geothermal exploration field in Croatia.
- The geothermal industry in Croatia has been building momentum for the past years, with the Croatian Hydrocarbon Agency (AZU) doing exploration drilling work in several sites.
Investor Jordan Alexander Oxley has acquired the Slatina 3 geothermal exploration field in Croatia following the exit of Cindrigo from the project in 2024. Oxley was the sole bidder for the property, making an offer of EUR 400,000 versus the initial EUR 200,000 price.
Cindrigo had envisioned a 20-MW development at the Slatina 3 site and had been preparing to start with drilling operations in early 2024. However, the company cited “licensing delays and the lack of transparency from the Croatian Hydrocarbon Agency” as reasons for the decision to exit the project.
The project was being developed through EES Dravacell Energy, which is majority owned by Cindrigo.
Oxley is currently the Managing Director of the Green Energy Geothermal (GEG) Group of Companies, following the acquisition by Energy Co-Invest Global Corp. (ECC Global) in 2018.
The geothermal industry in Croatia has been building momentum for the past years, with the Croatian Hydrocarbon Agency (AZU) doing exploration drilling work in several sites while private companies like ENNA Geo and Viola Energy Generation are similarly developing other projects.
However, not all of the news has been positive. Just a few months ago, the company that owns the Velika Ciglena geothermal power plant was placed under bankruptcy proceedings following years of the facility not operating.