IFC Supports Construction of Wind Farm in Croatia

The International Finance Corporation (IFC), a member of the World Bank Group, is assisting in increasing renewable energy sources by financing a wind farm near the coastal city of Sibenik with 55 million euros.

The IFC will provide 20 million euros to the local branch of Austrian energy producer RP Global Holding to support the construction of the 43.7 megawatt Danilo wind farm. The IFC has mobilised an additional 35 million euros through a syndicated loan from UniCredit Bank.

The project, estimated at 84.3 million euros in total, comprises nineteen 2.3 MW turbines that will be installed in central Dalmatia, 15 kilometres from the Adriatic Sea. Construction is due to begin in the second half of the year, with commercial operation scheduled for the end of 2013.

The Danilo wind farm will strongly contribute to the production of renewable energy sources and will improve the energy supply to consumers and companies in Croatia, the statement said.