Czech-based renewable energy investment firm, Woodburn Capital Partners, has announced a strategic expansion into Croatia and surrounding regions, leveraging Power Purchase Agreements (PPAs) as its key offering for corporate clients. This initiative aims to establish the company as a prominent developer and operator of clean energy projects across central, eastern, and southern Europe.
As a testament to its PPA model, Woodburn recently solidified a major partnership with the global automotive supplier Magna. The 15-year agreement involves the construction and management of a 2.4 MW photovoltaic array at a Magna Bohemia facility in the Czech Republic, demonstrating the firm’s capacity to deliver long-term solar energy solutions.
Chris Kottnaeur, Woodburn’s CFO, emphasized the financial advantages for businesses engaging in such contracts. “The most significant benefit for business cash flow is that clients avoid making any capital expenditures. By signing a PPA, their only cost is operational,” Kottnaeur explained. He noted that these agreements offer budget stability by securing a fixed electricity price, which removes the risk of market volatility and potential write-downs, making large-scale investments in renewables more accessible.
The company’s push into the Croatian market will be supported by substantial new infrastructure. Mirko Medenica, head of development at Woodburn, confirmed that two new solar power facilities in Croatia, with a combined capacity of 13 MW, will underpin the new PPA offerings. These projects include a 10 MW plant planned for Brdovec, near Zagreb, and a 3 MW plant in Stankovci, located in Zadar county.
“We are quickly working to introduce our PPAs to businesses in Croatia and the wider region,” stated Medenica. “These agreements will be supported by our new plants in Stankovci and Brdovec, along with several other undisclosed renewable energy projects and partnerships currently in development.”
Woodburn’s regional ambitions extend beyond Croatia. The company is actively developing projects along the Adriatic coast and is exploring opportunities in Bosnia and Herzegovina, a country that receives up to 35% more sunlight than Central Europe. A significant step in this direction is a recently signed concession agreement in Canton 10 for a 92.5 MW solar power plant in Tomislavgrad, which will notably feature an integrated battery energy storage system (BESS). Through these strategic projects and partnerships, Woodburn is solidifying its role in advancing the region’s transition to a more sustainable energy future.
Sources for Czech Solar Company Launches PPA in Croatia
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