Zagreb, Croatia, July 6, 2012
– IFC, a member of the World Bank Group, is helping Croatia increase its supply of renewable energy by arranging up to €55 million in financing for a wind farm near the town of Sibenik.
IFC will provide a €20 million loan to the local subsidiary of Austrian energy producer RP Global Holding to support the 43.7-megawatt facility. IFC mobilized an additional €35 million from UniCredit through a syndicated loan. The Danilo wind farm is expected to provide steady supply of power to homes and factories while helping combat climate change.
“The strong involvement and backing we have received from IFC not only demonstrates the strength of the project, but also Croatia’s ability and willingness to attract large investments,” said Bojan Rescec, Country Manager of RP Global in Croatia.
The project will see 19 2.3-MW turbines built in central Dalmatia, about 15 kilometers from the Adriatic Sea. It will boost Croatia’s supply of wind-generated power by 34 percent. Construction is set to begin in the second half of 2012 with commercial operation scheduled for the end of 2013.
“The Danilo wind farm will make a significant contribution to Croatia’s renewable energy production and improve electricity supply to consumers and businesses,” said Tomasz Telma, IFC Director for Europe and Central Asia. “IFC’s support for renewable energy is an important part of our work to address climate change and improve access to infrastructure.”
The Danilo wind farm will be spread across three sites within several kilometers of each other. Nine turbines will be erected in Velika Glava, eight in Bubrig, and two in Crni Vrh. The total project cost is estimated at €84.3 million.
RP Global Holding has developed 25 different projects while focusing on small hydropower plants and wind farm projects. At the moment, the company operates nine power plants in Poland, France and Portugal with a total installed capacity of 110 MW.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit
www.ifc.org
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