Croatia: Marubeni & HEP awaiting EC opinion on compliance

, SEE Energy News

Japanese company Marubeni, the strategic partner of Croatia power utility HEP for the construction of the thermal power plant Plomin C, was also among around thirty Japanese companies of which the Croatian Prime Minister, Zolan Milanović, met in Tokyo.

Marubeni annually achieves the revenue of around 30 billion USD and a profit of around two billion dollars, and in March, HEP presented it as the “exclusive” negotiator with whom they were negotiating the construction of the thermal power plant the value of which was estimated at one billion euros.

Should the outcome of negotiations be positive, in fall, Milanović’s administration could sign the largest foreign investment in the 25 years of the Croatian state.

In the statement after the meeting with the Japanese Prime Minister, Shinzo Abe, Milanović said that Japan had not been sufficiently present in Croatia, but that at that moment, when the decisions from Brussels on the planned investment in the Croatian energy sector were expected, he hoped for a favorable outcome.

What is in fact expected from Brussels is the green light for the part of contract which refers to the amount of electricity price from Plomin C, at which HEP will purchase it from the Japanese investor.

The European Commission is actually checking whether the Japanese-Croatian agreement complies with the European rules on market support and subsidies, and the statement of Milanović that he “hoped for a favorable outcome”, as well as his trip to Japan could be the sign that the entire job is successfully coming to a close, according to the Evening Newspaper. , transmits