Majority stake offered for geothermal development in Babina Greda, Croatia

First drawings of proposed geothermal project in Vukovar-Srijem, Croatia (source: Geotermalni izvori)

A public tender has been announced for 89.92% stake in geothermal company Geotermalni Izvori which holds an exploration permit for the Babina Greda 2 area in the county of Vukovar-Srijem in Croatia. Bidding starts at a price of EUR 898,000. The deadline to submit bids will be on 26 January 2024.

Geotermalni Izvori was jointly founded in 2020 by the County of Vukovar-Srijem and the Municipality of Babina Greda.

Potential buyers must submit a letter of intent stating the following:

• A guarantee to ensure the financial stability of the company in a period of at least 3 years from the signing of the agreement on the sale;
• A guarantee to drill an exploratory geothermal well within the Babina Greda 2 working area, prepare the project’s technical documentation, and obtain a permit for the exploitation of the geothermal resource within 3 years from the signing of the agreement if the research confirms the presence of a resource.

Additional information on this public call can be obtained at:

• Administrative Department for Legal and General Affairs of the County

Source: Official website of Babina Greda