IFC Supports Jelinak Wind Farm In Croatia, Boosting Supply Of Clean Energy

Zagreb Croatia -  IFC, a member of the World Bank Group, is helping Croatia increase its supply of renewable energy by arranging up to €38.8M in financing for the 30 MW Jelinak wind farm, in the northwest of the Split-Dalmatia region.

IFC will provide €15.4M in loans to a local subsidiary of ACCIONA Energia, a part of the ACCIONA Group, a Spain-based global infrastructure conglomerate and one of the world’s leading renewable energy companies. IFC has mobilized an additional €23.4M from UniCredit Bank through a syndicated loan.

“The Jelinak wind farm will make a significant contribution to Croatia’s renewable energy production and improve electricity supply for homes and business in the central coastal region of Croatia,” said Tomasz Telma, IFC Director for Europe and Central Asia. “IFC’s support for renewable energy is an important part of our work to address climate change and improve access to infrastructure.”

The Jelinak wind farm will increase Croatia’s wind energy capacity by 30 MW, 16 percent up from the current level of 180 MW. It will also help to meet the growing energy demand in the country, helping Croatia diversify its energy provision and become less reliant on imports.

The Jelinak wind farm is expected to generate 63.8 GW hours per year, providing a reduction in greenhouse gas emissions of approximately 21,000 tons per year. Construction of the Jelinak wind farm began in 2012, with commercial operation scheduled for the summer of 2013. Last year, IFC arranged €55M in financing for the 43.7 MW wind farm near the town of Sibenik in Croatia.

ACCIONA Energia is a global renewable energy operator with more than 20 years of experience in renewables. It has installed 9,000 MW of electricity generation in 14 countries. The company has 213 wind farms, 80 hydroelectric power stations, and a number of solar thermal and photovoltaic plants that rank among the biggest in the world.