Statkraft eyes 110 MW of new solar in Croatia by 2027

Date: September 17^th 2024

Norwegian power utility Statkraft hopes to complete around 110 MW of its 750 MW portfolio of solar projects in Croatia by 2027, Arnaud Bellanger, country manager at the company, said on Tuesday.

The projects are in various phases of development, with several having obtained the initial permit required, Bellanger told the press during a briefing on Tuesday.

Two projects with a total capacity of around 110 MW might be ready for operation in 2026 or 2027, depending on the speed of the permitting process, he added.

Statkraft’s 750 MW portfolio includes projects it acquired from French renewables firm Neoen in May.

Around a third of that capacity will be agrivoltaics, Bellanger said, adding that the company is separately looking to develop wind and battery storage projects in Croatia.

Red tape limitations

Bellanger, however, pointed to the lengthy permitting process in the country, and to the as-yet-unclear grid connection fee, as factors that are negatively impacting the financing and development of new projects.

Energy regulator Hera was supposed to adopt the fee in 2022, and had since committed to doing so by the end of this summer.

“It's important for us to have this in place and we expect this to be published in the coming months,” Bellanger said.

Negative prices

Senior regional manager at Statkraft Simen Bræin separately spoke of the impact of the negative prices hitting energy markets across Europe, saying that they highlight the need for subsidy schemes in the sector.

He confirmed that Statkraft will be looking at market premium contracts for its projects in Croatia.

European power prices have turned negative for a record number of hours this year, which Bræin said also demonstrated the need for wider deployment of flexible hydro and battery storage projects.

The company is conducting a study on the potential profitability of large battery storage systems in Croatia, which will be finished by the end of the year.