27.12.2023.
Nearly 43million euros will be invested in the production of electricity from renewable sources in the processing and heat industry. The resources were secured from the European Modernisation Fund, and the contracts for the implementation of 162 projects were presented to the representatives of the companies by Luka Balen and Hrvoje Bujanović, the director of the Fund and state secretary at the Ministry of Economy and Sustainable Development respectively."The issue of energy independence has now become more important than ever before. Lower energy costs, while at the same time meeting sustainability goals, strengthen the competitiveness of our companies on the market, so a great interest in the resources available from the Modernisation Fund was expected. The Environmental Protection Fund will monitor the implementation of all these projects and, together with the Ministry of Economy, will help companies to successfully implement the green transition of their business," said Fund director Luka Balen.
The investments are aimed at encouraging companies in manufacturing industries and activities related to steam and air conditioning supply to produce electricity from renewable sources for the needs of their production facilities, as well as other related facilities. The goal is to increase the share of renewable energy sources in the gross final energy consumption of the Republic of Croatia by 2030 thus contributing to the reduction of greenhouse gas emissions.
"The Republic of Croatia has committed to contribute to the achievement of climate goals and, in order to achieve this, it is necessary to actively involve all stakeholders in society. The business sector is expected to be at the forefront of changes in decarbonization and low-carbon innovation, which requires stronger capacity development and greater mobilisation of public and private investments", said state secretary Hrvoje Bujanović during the contract award ceremony.
Although these initially are larger investments, in the long run they are cost-effective. To help the economy, through various measures, and with generous subsidies from EU funds, the Government of the Republic of Croatia provided incentives and encouraged companies to move in the direction of a green and resource-efficient economy. Great interest shown in the resources available from the Modernisation Fund confirms that multiple benefits of such investments have been recognised.
