Croatia issued tender for 6 geothermal development project sites

Map of geothermal fields in Croatia, Jan. 2020 (source: Croatia Hydrocarbon Agency)

The Croatian Hydrocarbon Agency (AZU) has called a tender for geothermal exploration on six locations with expectations to attract a minimum of EUR 45 million in investment in geothermal projects over the next five years. It is a geographical area of ??the Drava Basin where significant geothermal potential has been proven. Investors were thus offered exploration areas in four Croatian counties (Medimurska, Koprivnicko-Krizevacka, Podravska, Osjecko-Baranjska) with a total area of ??over 200 km2. The potential of exploration areas was identified in earlier wells created for the purposes of exploration and exploitation of oil and gas, which now greatly reduces the risk and costs for future investors. It should be pointed out that the temperature at all locations enables the production of electricity, while the total potential of all locations is around 600,000.00 MWh of electricity. The Hydrocarbons Agency, in cooperation with the Ministry of Economy and Sustainable Development , carried out the necessary preparatory actions prior to the tendering and prepared the tender documentation for the proposed exploration areas. Commenting on the opening of the competition, Marijan Krpan , president of the Hydrocarbons Agency, pointed out that geothermal energy can become the bearer of the stability of the country’s energy system. “At a time when globally there is an urgent need for an increased supply of safe, reliable and affordable energy with an emphasis on the renewable component, the Republic of Croatia is turning its geothermal potential into an invaluable resource. The activation of geothermal energy is not something that happens overnight, and the Republic of Croatia has been intensively working on it for the past four years. These projects can be the backbone of the green transition and the basis of energy stability tomorrow. According to current conservative estimates, geothermal power plants with a total capacity of around 1 GW could be built on the Croatian geothermal sites identified so far” – said Krpan. The minimum amount of investments in geothermal projects in the Republic of Croatia in the next 5 years is expected to be EUR 45,000,000.00. The stated amount represents the estimated cost of producing a minimum of six exploration wells, that is, one exploration well in each exploration area. After the exact potential of each space is determined, the above-ground works, i.e. the construction of the power plant, begin. The expected value of the investment is over EUR 400 million, and the Republic of Croatia can bring over 600,000.00 MWh of new renewable electricity per year. Bidding began on December 28, 2022 , and the deadline for submitting bids is June 1, 2023 . until 12:00. The sites are (linked to the tender information):

Source: Press release