February 26 (SeeNews) - Croatia's government has granted 5.4 million kuna ($826,063/727,089 euro) to local tourism company Valamar Riviera [ZSE:RIVP] to finance a project for improving the energy efficiency at the Corinthia Baska hotel complex, Valamar said on Tuesday.
The estimated total value of the project is 10.6 million kuna, Valamar Riviera said in an e-mailed statement.
It includes replacement of the boilers and the water cooler at Corinthia Baska hotel complex, on the island of Krk. The project also includes partial modernisation of the indoor pool's air conditioning system and replacement of the outdoor lighting with LED lighting.
"This agreement is of high value for Valamar in terms of confirming the importance of our focus in the field of energy efficiency and all initiatives in the field of environmental protection. Promoting sustainable development and environment preservation is of strategic importance in tourism ", Valamar CTO, Flavio Gregorovic, explained.
The company plans to continue reducing greenhouse gas emissions in the next five years and introduce renewable energy sources to completely replace heating oil-fired installations at its facilities.
The grant was awarded by the ministry of environmental protection and energy following a competition among projects for enhancing energy efficiency and the use of renewable energy sources in tourism, trade.
(1 euro = 7.42940 kuna)