Croatia: Competitors power utility HEP and RWE created JV for RES projects in SEE region

24. July 2015. / SEE Energy News

Croatian Electric Power utility (HEP) and the German energy giant RWE established a new joint venture company for project management in the field of renewable energy.

Longtime partners will together develop RES projects in Croatia over the new company, but intend to step up to the markets of other countries in Southeast Europe. President of the Board of Croatian Power Industry Ltd. Perica Jukic and executive director of Croatia RWE Karl Kraus signed an agreement on establishment yesterday in Zagreb. HEP and RWE will have 50 percent of the share capital and each partner will appoint a member of the Board of the company.

The new joint company with headquarters in Zagreb will address the strategic assessment and analysis of potential investment capacity for the electricity production from renewable energy sources, development of decentralized projects, acquisitions, development projects using waste for energy production, optimizing and increasing the efficiency of existing facilities and the provision of technical consulting services, with a focus on the markets of southeast Europe.

“Among the key HEP business objectives are the expansion of the product portfolio in the field of renewable energy sources and strengthen the business in the markets of the countries in the close environment. The company that we have established with our proven longtime partner, RWE, just has the task that successfully realizes these goals. Given the very positive experience in Plomin, I am sure that our cooperation with RWE in this area would be extremely successful”, said Perica Jukic, executive director of Croatian Electric Power Industry.

“After almost 20 years of successful cooperation in the construction and management of thermal power plant Plomin 2, we finalized a very successful partnership, but by coming out of Plomin, RWE does not leave Croatia. That is why we have established a new joint venture, through which we will jointly explore investment opportunities in renewable energies in Southeast Europe. RWE role will be primarily in providing strategic consulting, thanks to the rich experience of RWE Group throughout Europe”, said Karl Kraus, director of RWE Croatia.

To recall, the Croatian Electric Power Industry and RWE started cooperating in 1996th, when was agreed the construction and management of thermal power plant Plomin 2. Thermal Power Plant was put into operation in 2000th , and in May this year expired contract that two parties agreed under BOT model (Build- Own-Transfer), by which a thermal power plant Plomin 2 became wholly-owned by HEP.

The new joint venture, this time in the field of renewable energy sources, marks the continuation of a successful business cooperation and partnerships long twenty years. , transmits Serbia-energy.eu

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