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.
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.
For more information on RP Global,
please visit www.rp-global.com