Croatia’s guarantees-of-origin market cleared more than 312,000 certificates in parallel auctions covering wind, solar, biomass and biogas generation, providing a fresh price signal for the environmental value attributed to renewable electricity in the Croatian market.
A total of 312,171 guarantees of origin, or GOs, were sold through six auctions conducted on the CROPEX trading platform. Because one guarantee generally represents 1 MWh of qualifying electricity, the auction covered environmental attributes attached to more than 312 GWh of renewable generation.
The largest transaction involved 244,413 wind guarantees offered by Croatian energy-market operator HROTE. These certificates, representing electricity produced during the second quarter of 2026, cleared at €1.42 per GO.
HROTE also sold 39,366 biomass guarantees at €1.33 per GO. Together, the two HROTE auctions represented almost 91 per cent of the volume sold, showing the continued importance of centrally administered support structures in Croatia’s renewable certificate supply.
ENNA Next sold 22,698 Croatian wind guarantees, covering generation from March through May, at €1.33 per GO. The company also sold 2,669 guarantees from German wind plants at €1.46 per GO, the highest clearing price among the disclosed auction categories.
Smaller transactions included 1,174 solar guarantees at €1.36, 1,012 biomass guarantees at €1.31 and 136 biogas guarantees at €1.12. Koer sold a further 703 solar guarantees, covering June generation, at €1.31 per certificate.
The relatively narrow price range—generally between €1.31 and €1.46/MWh—suggests that technology and country of origin generated only modest premiums. The German wind certificates cleared slightly above Croatian wind, while solar traded close to the main wind and biomass products.
At these prices, guarantees of origin remain a supplementary revenue stream rather than a central element of project economics. A wind project selling certificates at €1.42/MWh would earn approximately €142,000 for every 100 GWh of eligible annual production. That income can support operating margins, but it is small compared with wholesale power revenue and cannot compensate for sustained price cannibalisation or curtailment.
The certificates are nevertheless becoming more important for industrial consumers seeking to document renewable electricity consumption. Their commercial value depends increasingly on traceability, production period, technology, location and whether buyers can integrate them into broader carbon-accounting and contractual structures.
The complete sale of the offered volume demonstrates continuing corporate demand for renewable attributes. The pricing also establishes a useful benchmark for Croatian producers evaluating whether to sell certificates independently, bundle them with physical electricity or incorporate them into power-purchase agreements.
