IFC has approved EUR 15.4 million in loans to local branches of the Acciona Energia company, which is part of the Acciona Group, with its headquarters in Spain and one of the world's leading companies in renewable energy. An additional EUR 23.4 million will be issued by the UniCredit bank through a syndicated loan.
"The Jelinak wind farm will make a considerable contribution to Croatia's energy production from renewable sources and improve electricity supplies to households along the central coast of Croatia. IFC's support for renewable energy programmes is our contribution to climate change and efforts to advance the approach to infrastructure", IFC Director of European and Central Asia Tomasz Telma said.
The Jelinak wind farm will increase Croatia's wind energy by 30 MW and add to improving energy diversification in Croatia, a press release notes.
It is expected that the wind farm will produce 63.8 GW of electricity per year as well as reduce greenhouse emissions by about 21,000 tonnes each year.
Last year the IFC approved a loan valued at EUR 55 million for the construction of a 43.7 MW wind farm near Sibenik.