Displaying items by tag: geothermal energy

The Croatian Government introduced a provision to assign 2.26GW of renewable energy capacity under an auction scheme, which includes technologies such as hydropower, wind, solar PV, biopower and geothermal energy. GlobalData predicts that auctions such as these will help develop the Croatian renewable sector and support the country towards its target of producing 36.4% of its electricity generation from renewables by 2030.

Somik Das, Senior Power Analyst at GlobalData, comments: “GlobalData estimates that generation from renewables (including small hydro) contributed around 20% of Croatia’s overall power generation in 2019. Wind has been the key technology in the segment, forming 12.7% of generation. However solar, which formed a negligible share last year, is on the rise and is anticipated to be the fastest-developing segment over the decade.

“With these auctions, it is anticipated that the solar PV project pipeline will see substantial increase from the current 109MW of small solar PV projects in the pipeline in various stages of development.”

The auction comes as a portion of the decree adopted on quotas to incentivize the generation of electricity from renewable energy sources and high-efficiency cogeneration. The key objectives of the strategy are guaranteeing sustainable energy generation in Croatia over the following ten years, with projections until 2050.

Das added, “As renewables become more competitive and achieve grid parity across the globe, Croatia will not want to be left behind in the renewables race. The bigger picture encompasses the sustainable environment, where, until 2050, the strategy will aid the nation in accomplishing its objective of cutting down on carbon dioxide emissions by 36%.”

• Comments provided by Somik Das, Senior Power Analyst at GlobalData
• Among these technologies solar PV  has the largest capacity share of over 1GW to be tendered in multiple auctions. The first auction saw Croatian electricity and gas regulator Hrvatski Operator Tržišta Energije (HROTE) announce a tender for 88MW of renewables capacity. The authority apportions 50MW of solar capacity, 15MW of biogas, 14MW of biomass, and 9MW of hydropower.
• To expand the competitiveness and allure of the solar PV segment, the maximum tariff was set at €0.084 (US$0.10)/kWh in comparison to €0.178 (to $0.21) per kWh for biomass and €0.10(US$0.114)/kWh for other technologies. Successful projects will be awarded a feed-in price premium, which will be paid on top of spot market prices.

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