With the funds directed through the National Recovery and Resilience Plan, strategic investments were launched in the modernisation of the electric power system and the increasingly stronger positioning of the Republic of Croatia on Europe’s energy map as a key hub for the security of gas supply.
In the official ceremony, minister of economy Ante Šušnjar, director of the Fund Luka Balen, president of the Management Board of the Croatian Transmission System Operator Inc. (HOPS) Igor Ivanković, and managing director of LNG Ivan Fugaš, signed contracts providing for further development of the Croatian energy system towards greater security, efficiency and sustainability. "Today's projects are the best proof that strategic investments are shaping Croatia's energy future – safer, more modern and more resilient. The HOPS project ensures stability and resilience of the power system across the country, enabling a reliable supply of electricity, while the expansion of the LNG terminal on Krk further strengthens our position as a reliable energy partner in the region, and guarantees the security of gas supply in these challenging times,” said minister Šušnjar.
"These two long-term strategically important and beneficial projects, adding up to close to EUR 125 million, are a follow-up on investments already initiated in the modernisation of HOPS' transmission grid and upgrade of the existing LNG terminal infrastructure. They will contribute to energy security, the stability of our energy sector, and its decarbonisation for further energy transition. The Fund, as the Implementing Body, controls the implementation of strategic energy projects, and I believe that their implementation, as with previously contracted projects, will be successful", said director Balen upon signing.
The Croatian Transmission System Operator - HOPS has signed a contract with the Ministry and the Fund for the project of optimisation, digitalisation and revitalisation of the power infrastructure with the aim of strengthening the Croatian power transmission network worth EUR 99.18 million. The project is financed from the Recovery and Resilience Facility, and its goal is to increase the security and stability of power transmission, digitalise management and modernize key electricity infrastructure. The project will reconstruct at least two power plants and replace at least eight power transformers, with the application of advanced software solutions and modernization of the control system. This strategic step contributes to strengthening Croatia's energy resilience and the transition to a sustainable energy future.
With this, HOPS continues to invest in the modernisation, digitalisation, revitalisation and increase of the capacity of the Croatian transmission grid. Advanced infrastructure solutions will enable better integration of renewable energy sources, more reliable and safer electricity supply, which is the foundation of a stable economy," said Igor Ivanković, president of the Management Board of HOPS.
LNG Croatia has signed a contract for a project to increase the capacity of the LNG terminal on Krk island. The project, whose total value is EUR 46.1 million, will increase the terminal's regasification capacity to 6.1 billion cubic meters per year. This further ensures the stability of natural gas supply in Croatia and the region. The project includes the installation of a new gasification module on the LNG Croatia FSRU vessel, with the relevant equipment and integration into the existing system, and it is financed from the NRRP in the amount of EUR 25 million, together with LNG Croatia's own funds.
"With today's signing of the grant agreement, all the prerequisites have been created for the successful implementation of the LNG terminal capacity increase project. An increase in the capacity of the LNG terminal additionally strengthens the security of natural gas supply in Croatia, as well as in the countries of Central and Southeastern Europe. Croatia is thus becoming an important energy hub not only in this region, but the entire Europe, which is especially important if we know that five years ago, we were trailing behind in the natural gas supply chain, while now we are taking the lead. I would like to thank the Croatian Government, the Ministry of Economy and the Environmental Protection Fund, who helped in the realisation and signing of this contract with their expertise and cooperation,” said Ivan Fugaš, managing director of LNG Croatia.
