HT Concludes the Term Sheet for the First Corporate vPPA in Croatia

HT Concludes the Term Sheet for the First Corporate vPPA in Croatia
Hrvatski telekom

Hrvatski Telekom and Liburana, a company owned by Professio Energia, concluded a Term Sheet for the first-ever corporate renewable energy Virtual Power Purchase Agreement (vPPA) in Croatia. The agreement is set to be for 10 years, pending the signing of the contract.

Upon the agreement, Liburana/Professio Energia will build a dedicated wind power plant ‘Mazin Gračac’, in the Croatian Lika region, which shall produce electricity as renewable energy in volumes of 50 GWh yearly. The plant should start operations in the last quarter of 2024.

“This agreement, the first-ever corporate PPA in Croatia, marks a great structural energy transition for our company. It is an important step in HT ensuring a substantial volume of our own annual needs for electricity from renewable sources, with it also directly contributing to us meeting our ambitious ESG targets. We have for almost 2 full years been running on 100% renewable electricity while also working on reducing our energy consumption altogether. PPA symbolizes our commitment to both our sustainable development and EU-wide 45% renewable energy target, while at the same time supporting the creation of new jobs, stability, and growth in Croatia“, stated Kostas Nebis, CEO of Hrvatski Telekom.

„Following our Company's mission, which includes enabling reliable production of electricity without greenhouse gas emissions to clients and partners in SEE and beyond, we are extremely proud to conclude this Agreement, which is the basis for the conclusion of the first such vPPA in Croatia. We are glad that Croatian Telecom chose Professio Energia d.d. as a partner for the implementation of its energy transition. With the planned construction of the wind farm 'Mazin Gračac' we are working on the realization of our vision of becoming a leading vertically integrated company in the field of development and management of renewable energy projects in SEE through further investments, sustainable development, and increase of market capitalization“, added Mario Klarić, Board Member-Director of Professio Energia.