Croatia: RWE acquired local solar developer

9. May 2019. / SEE Energy News

According to Croatian media, local subsidiary of German energy company RWE has recently acquired a company from Varazdin – Relatio ES Adria, one of the largest in designing, supplying, installing and commissioning of solar power plants in Croatia. However, financial details of the deal, which was concluded in March, have not been disclosed.

The company, which was established in 2012, has now changed its name to RWE Solar and moved its headquarters to Zagreb. According to sources, RWE will focus on the business segment of photovoltaic panels customers and also offer the possibility of financing via the ESCO model. RWE decided to acquire the company because it failed to establish a joint venture with stateowned HEP, which was supposed to develop renewable energy projects. However, the cooperation between the two companies was terminated in late 2018.

In late 2018, RWE Energija, the second largest electricity supplier on the Croatian market, took over around 5,000 customers in the household category from the supplier 220V, who withdrew from the market. This was the second RWE’s acquisition in 2018, after the company took over the electricity supply business of Croatian telecommunications company Hrvatski Telekom (HT) few months ago. At the end of 2018, RWE Energija supplied electricity and natural gas to almost 200,000 Croatian households.

Download as PDF :

Download PDF