EBRD loans RP Global for Croatia’s 21-MWp Novalja solar project

• RP Global secured EBRD financing for the 21-MWp Novalja solar plant, advancing Croatia’s decarbonization with bankable, grid-friendly daytime capacity.

RP Global has obtained a loan from the European Bank for Reconstruction and Development (EBRD) to fund the 21-MWp Novalja photovoltaic project in Croatia—another data point that the country’s renewables pipeline is moving from plans to practical delivery. The financing replaces early-stage capital with long-tenor debt sized to operating cash flows, a milestone that typically unlocks procurement and construction cadence.

At this scale, the engineering playbook is familiar and bankable. Expect high-efficiency modules on single-axis trackers (or optimized fixed-tilt where terrain dictates), DC/AC ratios tuned for strong annual yield, and plant controllers configured for reactive power, ride-through, and rapid curtailment response—capabilities that Croatia’s operators increasingly require as solar penetration rises. A dust- and salt-aware O&M plan—cleaning cycles, vegetation management, and predictive analytics—protects capacity factor through summer peaks and shoulder seasons.

The site’s value extends beyond raw megawatt-hours. Daytime PV helps reduce gas burn, dampen afternoon price spikes, and complement hydro resources whose output can be conserved for evening hours. If the interconnection allows, preserving pad space and transformer headroom for a future two-to-four-hour battery would enable energy shifting and ancillary-service revenues, while making better use of the existing grid tie.

What sealed the EBRD’s comfort is likely a mix of solid offtake, clean permits, and a credible EPC/O&M stack. Lenders in Central and Eastern Europe prize standardization and transparency: proven equipment, clear warranty terms, unified SCADA, and contingency paths for spare parts. Post-COD, portfolio-level service contracts and analytics can lift availability by basis points that compound over time.

Communities near Novalja should feel tangible benefits: construction jobs, local procurement, and steady municipal revenues. Biodiversity measures—species-rich grasslands under arrays, hedgerow strengthening at perimeters—and storm-water controls are now standard conditions, helping the project integrate with its setting.

For Croatia, Novalja is less an outlier and more a bellwether. With transmission upgrades underway and investor appetite strong, medium-sized PV plants like this can scale quickly—adding clean daytime power while preparing the ground for a more flexible, storage-enabled grid.