Croatia is preparing to build Eastern Europe's largest energy storage project. IE Energy has secured €19.8 million ($20.9 million) to develop a 50 MW storage system, potentially extendable to 110 MW by 2024. Contact online >>
Croatia is preparing to build Eastern Europe''s largest energy storage project. IE Energy has secured €19.8 million ($20.9 million) to develop a 50 MW storage system, potentially extendable to 110 MW by 2024.
IE Energy, a Croatia-based energy storage operator, is set to build a 50 MW storage project, after securing €19.8 million from the Croatian government via state aid from the European Commission. The package will help the company to partly finance the procurement and installation of grid-scale batteries, in order to provide transmission system operators with grid-balancing services.
"IE Energy said it would boost the 50 MW system to 110 MW by 2024. There is no storage facility in southeastern Europe yet with such a capacity," Attaurrahman Ojindaram Saibasan, a power analyst at GlobalData, told pv magazine. “There is immense scope for energy storage in Croatia, predominantly for battery storage.”
GlobalData says that Croatia is now on target to meet its 36.4% renewable energy target by 2030. However, its recent investment in energy storage has not been accompanied by rapid solar PV development. The country might only add 2.5 MW of new solar capacity in 2022, and another 19 MW next year, according to the consulting firm.
The International Renewable Energy Agency (IRENA) says that Croatia had 309 MW of installed PV capacity at the end of 2021. GlobalData expects the country to reach 770 MW of cumulative solar capacity by 2030.
"Croatia''s largest state-owned power company HEP has announced plans to invest around $23 million annually until 2023 to install new capacity of 20 MW per year, as well as to complete 350 MW capacity by 2030," said Saibasan.
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The Ministry of Economy and Sustainable Development in Croatia has issued a €60 million (US$66 million) Call for Funds which seeks projects for renewables, energy efficiency and energy storage totalling 20MWh.
The Ministry announced the Call this week (17 April) which will provide €100,000 – €2 million per project with a maximum of €4 million per beneficiary.
In September 2020, Energy-Storage.news reported on a €20 million grant from the EU to Croatia-based energy storage operator IE-Energy for the firm to deploy projects in the country.
In April, Croatia and its neighbour Slovenia started a trial project looking at how a five-hour duration battery storage system could increase grid flexibility in both countries, in another EU-financed project.
Energy-Storage.news'' publisher Solar Media will host the inaugural Energy Storage Summit Central Eastern Europe on 26-27 September this year. This event will bring together the region’s leading investors, policymakers, developers, utilities, energy buyers and service providers all in one place, as the region readies itself for storage to take off. Visit the official site for more info.
The procurement exercise was the second round of auctions since Croatia introduced market premiums to support renewable energy projects in mid-2020. It was open to PV, wind and hydropower projects and was expected to allocate 607 MW of capacity.
The final average price for the PV technology came in at €0.056 ($0.065)/kWh, while the average price for hydropower was €0.158/kWh. The Croatian authorities initially reviewed 144 projects totaling 713 MW for the auction.
The tender was carried out in two phases. One awarded market premiums for projects with installed capacities of more than 1 MW each, including 350 MW of solar, 60 MW of wind, and 7.25 MW of hydropower. The maximum reference values for premiums were €0.067/kWh for photovoltaics, €0.75/kWh for wind, and €0.158/kWh for hydropower.
In this part of the tender, the market premium was awarded to all types of projects – both wind and solar – between 200 kW and 1 MW. Separately, small- and medium-sized enterprises, as well as renewable energy communities, could qualify PV projects from 200 kW up to 6 MW for the subsidies, in addition to wind projects ranging from 200 kW to up to 18 MW. The maximum reference values of market premiums for solar were €0.82/kWh and €0.75/kWh for wind.
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