January 20 (Renewables Now) - Greek renewables platform EuroEnergy has acquired a 114-MW wind power project in Croatia in a move that will expand its presence in the Balkan region, its parent company Libra Group said on Thursday.
With an investment of EUR 150 million (USD 162.3m), the project will add a new asset to EuroEnergy’s current 200-MW-plus portfolio of wind and solar farms in Greece and Romania.
The wind farm will be located in the municipality of Udbina in Croatia’s Lika-Senj county. It could eventually be expanded by 70.5 MW of capacity, depending on local grid upgrades, Libra Group said.
Financial details of the acquisition were not disclosed. The seller and the project’s original developer is an unnamed firm with three owners. One of them, Boris Katic, was quoted as saying:
“This wind project will provide a significant contribution to the sustainable development of this rural area by creating highly-skilled employment, improving the environment for local businesses and strengthening the regional road and power infrastructure. Located in the triangle between the three National Parks Plitvice, Paklenica and North Velebit, the wind farm is a crucial contributor to supporting and promoting the local communities in this remote region.”
The subsidiary of diversified business investor Libra Group, EuroEnergy was established in Greece in 2007 to focus on the renewables sector in Europe.
(EUR 1.0 = USD 1.082)
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