Croatia’s HEP and Germany’s RWE have announced a 50-50 joint venture aiming to exploit the renewable electricity potential of the Balkan region.
The venture will look at acquisitions, as well as developing decentralized projects, waste-to-energy projects, increasing the efficiency of existing facilities, and providing technical consulting services with a focus on southeast Europe.
HEP group owns and operates over 4,000 MW of installed electricity generation capacity, including 25 hydro power plants and eight thermal power plants fired by oil, natural gas or coal.
The newest European Union member, Croatia, imports 30 to 50 percent of its annual electricity consumption but aims to meet or exceed EU renewable energy targets before a deadline of 2020.
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