Slovenia's Petrol to invest 17 mln euro in PV project in Croatia

Slovenian energy group Petrol [LJE:PETG] plans to invest 17 million euro ($19.3 million) in the construction of three photovoltaic (PV) plants near Croatia's Knin in 2022, it said on Friday.

All the necessary preparations for the construction of the Suknovci, Pliskovo and Vrbnik PV plants were completed in 2021 and the project now is in ready-to-build phase, Petrol said in a statement e-mailed to SeeNews.

The supervisory board of Petrol considers the project for the construction of the PV plants as appropriate, and gives the management board its consent to go ahead with its implementation, Petrol said in a filing with the Ljubljana Stock Exchange earlier on Friday.

The three PV plants will have an installed capacity of 22 MW combined and will start generating electricity in 2023.

"The Supervisory Board of Petrol believes that by investing in the Suknovci, Pliskovo, and Vrbnik solar power plants, Petrol is pursuing its strategic goal which anticipates 160 MW of renewable electricity generation capacity by the end of 2025," supervisory board president Janez Zlak said in the filing.

Petrol Group’s total installed capacity for renewable electricity generation stood at 68.9 MW at the end of 2021. In the period between 2021 and 2025, Petrol will earmark 35% of its total investment potential of 698 million euro for investments in energy transition.

($ = 0.88039 euro)

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