January 20 (SeeNews) - UK industrial holding Libra Group said its Greece-based renewable energy subsidiary, EuroEnergy, has announced that it will acquire a 114-megawatt (MW) wind energy project in Udbina, Croatia.
“Representing a total investment of 150 million euro ($163 million), the project will expand EuroEnergy’s European footprint to harness the potential of Croatia’s growing renewable energy sector,” Libra said in a press release on Thursday.
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The acquisition reserves the right to expand with an additional 70.5 MW of wind capacity, depending on electricity grid upgrades that can increase production.
With an established presence in key markets, including Greece, Romania, and now Croatia, this acquisition will substantially increase EuroEnergy’s investment portfolio of solar parks and wind farms to an installed capacity of over 200 MW. In addition, the company has previously owned and managed 375 MW.
“This wind project will provide a significant contribution to the sustainable development of this rural area by creating highly-skilled employment, improving the environment for local businesses and strengthening the regional road and power infrastructure,” Boris Katic, one of the three owners and original developer of the project, commented in the press release. The names of the other two owners were not disclosed.
Located in the triangle between Croatia's national parks Plitvice, Paklenica and North Velebit, the wind farm is a crucial contributor to supporting and promoting the local communities in this remote region, Katic added.
($ = 0.923 euro)