Industry: Renewable energy
Sector: Geothermal Power Plant
Country of Origin: Croatia |
Target Areas: European Union, ME (Middle East countries), BRICS countries (emerging markets Brazil, Russia, India, China, South Africa)
Renewable energy & geothermal energy in Croatia (EU member) – geothermal power plant of 10 MW under development. The company is developing different projects based on the use of geothermal energy (power plants, tourism & spa resort, other projects) at the location in North of Croatia (Pannonian Basin), water temperature of 100°C. The first Geothermal power plant project of 10 MW started in 2017, opening planned for 2019, other SPV’s (2 – 3) with the geothermal power plants of 10 MW planned in the coming 3 – 5 years.
Asking Price: 85,000,000 EUR
– Geothermal energy has an important role to play in the energy systems of many countries, the countries in Pannonian Basin like Croatia, Hungary and others have very high potential in the use of geothermal energy.
– The company developed in Croatia a new variant of geothermal energy with technology that fully utilizes the energy potential of hot brines. In contrast to the conventional geothermal power plants its hybrid system uses two sources for its energy production: hot water as well as the combustible gases dissolved in it. The gases are separated from the water and burned in a gas engine. The CO2 from combustion, as well as any brought up with the hot water, is captured at a rate of 98% and safely re-injected into the aquifer, where it remains.
The company is developing different projects based on the use of geothermal energy (power plants, tourism & spa resort, other projects) at the location in North of Croatia (Pannonian Basin), water temperature of 100°C. The first Geothermal power plant project of 10 MW started in 2017, opening planned for 2019. Geothermal power plant will be able to offer produced electrical energy for: further sales/auctions, agriculture, district heating, health & wellness facilities.
– The existing SPV has a concession area of 1.200 h with an IRR of 15% for an investor. The current price was evaluated at 85 – 90 million EUR, 20 – 25 % of the shares available in 1st SPV at the price of 17 – 20 million EUR.
The owners of the project are planning to roll out additional 2 – 3 SPv’s (geothermal PP projects) in Pannonian region of 10 MW approx.each. To grow the business rapidly the investors/strategic partners will be needed and owners are offering shareholdings in the existing and new SPV’s of the company.
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