Zagreb, 28 December 2022 – The Croatian Hydrocarbon Agency published on its website tenders for geothermal energy exploration in six exploration areas.
This is a geographical area in the Drava Basin, where significant geothermal potential has been proven. Investors were thus offered exploration areas in four Croatian counties (Međimurje, Koprivnica-Križevci, Podravina, Osijek-Baranja) with a total surface area of over 200 km2.
The potential of the exploration areas was identified in previous wells drilled for the purpose of oil and gas exploration and production, which now significantly reduces the risk and cost for future investors. It should be noted that the temperature at all sites allows for the production of electricity, with the total potential of all sites being approximately 600,000.00 MWh of electricity.
The Croatian Hydrocarbon Agency, in collaboration with the Ministry of Economy and Sustainable Development, has carried out the necessary pre-tender preparatory activities and prepared the tender documents for the proposed exploration sites.
Marijan Krpan, Acting President of the Croatian Hydrocarbon Agency, pointed out at the opening of the tender that geothermal energy can become the carrier of the stability of the country’s energy system.
At the time of an urgent global need for safe, reliable and affordable energy with an emphasis on its renewable component, the Republic of Croatia is turning its geothermal potential into an invaluable resource. The activation of geothermal energy was not achieved overnight in the Republic of Croatia, but has rather been the subject of intense efforts over the last four years. These projects can be the backbone of green transition and the basis for future energy stability. “According to current conservative estimates, geothermal power plants with a total capacity of approximately 1 GW could be built at the geothermal sites identified so far in Croatia”, Krpan said.
The minimum amount of investments in geothermal projects on the territory of the Republic of Croatia is expected to be EUR 45,000,000.00 in the next 5 years.
The subject amount corresponds to the estimated costs for the production of at least six exploration wells, i.e. one exploration well in each exploration area. After the exact potential of each area has been determined, the above-ground work, i.e. the construction of the power plant, will begin.
The expected value of the investment is over EUR 400 million and the Republic of Croatia will be able to generate over 600,000.00 MWh of new renewable electricity annually.
The tendering process started on 28 December 2022 and the deadline for submitting bids is 1 June 2023 at 12:00 p.m.