Subsequent to the design, development and successful operation of the co-generation biomass plant of 5MWe capacity in the municipality of Slatina in the course of more than two years, Resalta implemented the sale of the power plant to the Luxemburg investment fund PEAR Infrastructure Capital. The transaction was one of the largest foreign investments in the renewable biomass source segment in Croatia, as reported by Resalta.
Reslata will use the funds from the sale of the cogeneration plant in Slatina for the implementation of research and development of additional projects in the RES field in the region. PEARL Infrastructure Capital is specialized in investments in projects that produce renewable energy from biomass and will try to refinance the assets, thus creating additional funds for the consolidation of its strategy in order to develop a portfolio of co-generation biomass plants in Croatia.
It was pointed out in Company that the successful sale was evidence of the operational excellence of Resalta, as well as of the sustainability of local projects. The cogeneration plant in Slatina was designed and developed in full by local teams in cooperation with Croatian suppliers and subcontractors. It became operational in 2019 with a long-term electricity repurchasing contract signed with HROTE. The plant generates 40 GWh of electricity each year, which is sufficient for the supply of electricity to 500 households and of thermal energy to a number of local industries. The operation of the plant provided for the opening of 15 new jobs with plans to employ additional workers from Slatina. It was the first project implemented in the new municipal industrial zone. The sale of the project was carried out through the company Energy 9, a subsidiary of Resalta which owned the power plant in partnership with the company Iskraemeco.