Swiss energy trader Axpo signed a power purchase agreement (PPA) that it claims is the first such deal for a wind farm in Croatia.
It will buy 1.8TWh of electricity from the 111MW Zadar wind farm across the ten-year deal, or about 180GWh per year. Zadar is expected to produce about 317GWh per year.
Axpo signed the deal with Kunovac — a joint venture owned by Finnish renewable energy fund manager Taaleri Energia and Croatian developer Encro.
Zadar features 25 Nordex turbines and is due online in the second half of 2023.
The 111MW wind farm is financed by the European Bank for Reconstruction and Development (EBRD), the Croatian Zagrebacka Banka (UniCredit Bank) and the Croatian Bank for Reconstruction and Development (HBOR).
Croatia is currently working to build out its wind capacity in line cutting its emissions 45% by 2030, and fully abandoning coal by 2033. The country also hopes to become more energy self-sufficient. Croatia imports around 52.9% of its energy needs annually according to the International Trade Administration, including 80% of its oil needs, 67% of its gas, 32.5 % of its electricity.