Slovenia's Petrol to spend 17 mln euro in PV project in Croatia

• Slovenian energy group Petrol [LJE: PETG] plans to invest 17 million euro ($19.3 million) in the building of three photovoltaic or pv (PV) plants near Croatia's Knin in 2022, it claimed on Friday.

All the essential prep work for the building and construction of the Suknovci, Pliskovo and Vrbnik PV plants were completed in 2021 and also the project currently remains in ready-to-build phase, Petrol claimed in a declaration e-mailed to SeeNews.

The supervisory board of Petrol takes into consideration the project for the building of the PV plants as appropriate, and offers the management board its consent to go ahead with its implementation, Petrol said in a filing with the Ljubljana Stock Exchange earlier on Friday.

The three PV plants will certainly have an installed capacity of 22 MW combined and will begin producing electrical power in 2023.

"The Supervisory Board of Petrol thinks that by buying the Suknovci, Pliskovo, and Vrbnik solar energy plants, Petrol is seeking its tactical goal which anticipates 160 MW of eco-friendly power generation capacity by the end of 2025," supervisory board president Janez Zlak stated in the filing.

Petrol Group's complete installed capacity for renewable electrical energy generation stood at 68.9 MW at the end of 2021. In the duration between 2021 and 2025, Petrol will certainly allocate 35% of its overall investment potential of 698 million euro for investments in energy transition.