Enlight Acquires 525 MW Solar and Wind Projects in Croatia

Enlight Renewable Energy, a renewable energy power producer and solar project developer, signed an agreement to acquire and develop a 525 MW portfolio of renewable energy projects across various stages of development in Croatia.

The portfolio comprises five projects, four of which are solar, totaling 386 MW, and one of which is wind, totaling 139 MW, with construction commencing from the end of 2023 through 2025.

Croatia has adopted a National Energy and Climate Plan (NECP) to increase the generation of electricity from renewable sources from 28% to over 36% by 2030 and 66% by 2050.

Enlight owns a 1.2 GW portfolio of renewable energy projects between Hungary, Kosovo, Serbia, and Croatia, including 316 MW of operational projects.

Around 23 GW of solar projects were acquired in Q1 2022 compared to 13.1 GW in Q4 2021. Year-over-year, 15 GW were acquired in Q1 2021, according to Mercom’s Q1 2022 Solar Funding and M&A report.

Recently, Helios Nordic Energy, a developer of large-scale PV solar projects, has agreed with a Danish solar energy company Nordic Solar, to acquire four solar projects in the Helios project pipeline.

EDP Renewables, a renewable energy power producer, agreed with Xuan Thien Group, a solar developer, to acquire two solar PV projects totaling 200 MW in Vietnam. In November 2021, EDP Renewables (EDPR), a Spain-based renewable energy company, acquired a majority stake in Singapore-based solar energy company Sunseap. The deal values Sunseap at $815.18 million. Earlier in 2021, the company had announced its plans to double its solar and wind energy generation capacity by 2025. With this transaction, EDPR doubled its operational capacity in Vietnam, where it entered this market in 2021.