The European Bank for Reconstruction and Development (EBRD) has lent €70 million to Croatian state-owned gas company Plinacro to acquire a new gas storage facility.
The senior corporate loan will enable Plinacro to acquire Podzemno Skladiste Plina, owner of the facility in Okoli, near Zagreb, and represents a step to increase Croatia’s energy independence.
EBRD Director for Natural Resources Kevin Bortz said of the transaction: “As gas storage becomes an increasingly important issue for EU member states and accession countries in ensuring security of energy supply, this project will play a critical role for Croatia’s ability to cope with potential supply shocks”.
Plinacro is set to make a further €19.4 million of capital investments to improve the facility’s storage efficiency.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: