Croatia's Enhanced Green Transition: EU's Approval and Innovative Solar Projects

November 29, 2023
Croatia, with the European Commission's approval, is set to transform its energy landscape with a modified recovery and resilience plan now worth €10 billion. This plan, part of the broader REPowerEU initiative, focuses on making Europe independent of Russian fossil fuels by 2030. It includes €5.8 billion in grants, €4.2 billion in loans, and encompasses comprehensive reforms and investments in energy efficiency, renewable energy, digital transition, and post-earthquake building reconstruction.

This ambitious plan is bolstered by the European Bank for Reconstruction and Development's (EBRD) first loan under the InvestEU programme to Croatia, providing €10.6 million to Encro Group for developing 30 MW solar capacity. Encro, under the leadership of CEO Iljko Ćurić, aims to demonstrate a market-based alternative for renewables, without relying on state subsidies.

The green technology and sustainability market is projected to grow significantly, with a CAGR of 27.8%, reaching USD 60.7 Billion by 2026 from USD 17.8 Billion in 2021. Factors driving this growth include increasing environmental awareness, initiatives to combat climate change and air pollution, corporate efforts towards environmental sustainability, and the adoption of advanced technologies. Major players in this market include GE, IBM, Enablon, Salesforce, Microsoft, Schneider Electric, Engie Impact, Intelex, Enviance, Sensus, LO3 Energy, Isometrix, ConsenSys, CropX, Hortau, IOT Solutions and Consulting, Pycno, MineSense Technologies, WINT, Envirosoft, ProcessMAP, Accuvio, Taranis, Trace Genomics, OIZOM, SMAP Energy, Treevia, Ecotrack, EcoCart, and AquiPor Technologies​​.

Croatia's plan also aligns with global trends, with companies like Siemens and the General Services Administration (GSA) in the US pushing for energy-efficient technologies in public infrastructure, indicating a significant shift towards sustainable and efficient energy use.


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Green Technology and Sustainability Market

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Croatia's €10 billion energy plan, approved by the EU, focuses on renewables and independence from Russian fossil fuels, reflecting global trends in sustainable technology adoption.

The plan includes a landmark €10.6 million InvestEU loan for a 30 MW solar project by Encro Group, showcasing market-based renewable solutions without state subsidies.


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