Croatia’s INA signs two deals for renewable energy projects

"The combined value of these two new strategic projects that will strengthen the company's renewable project portfolio is 98 million euro ($104 million)," INA said in a press release.

Construction of both plants is expected to be completed in 2026.

The first one is an installation of a 10 MW electrolyser for the production of green hydrogen at the Rijeka Refinery, coupled with a solar power plant that would partially power the production unit.

"By producing green hydrogen, which is meant for usage in transportation, INA will become the first producer of commercial green hydrogen in Croatia," the company said. It signed a contract for the delivery of key equipment for this project with local company IVICOM Consulting.

The planned biomethane plant in Sisak, central Croatia could deliver its output to Croatia's gas grid, while waste residue remaining from the production process could be used as an ecologically acceptable fertilizer. A turnkey contract for engineering, procurement and construction of a biomethane plant was signed with Austrian manufacturer Biogest.

INA also said that it plans to direct up to 20% of its 2025 investment budget to renewable energy projects.

The green hydrogen project, together with its solar plant and logistic capacity will be co-financed through the EU-backed Croatian Recovery and Resilience Facility (RRF).

INA will apply for funding under the Croatian RRF for the Sisak biomethane project as well once a public call for the funding is announced.

INA’s shares closed 1.20% lower at 494 euro on Monday on the Zagreb bourse.

($ = 0.941 euro)