ZAGREB (Croatia), September 4 (SeeNews) - The Croatian government on Thursday amended the country's tariff regulations on the development of projects using renewable energy sources (RES) in a bid to ease the process and adapt it to the current economic environment.
The adopted decision repeals the obligation of RES project holders in the country to submit bank guarantees to the Croatian energy market operator, HROTE, documents from the government's website showed.
The bank guarantees were provided in order to assure the implementation of RES projects within the timeframe agreed with the regulatory authorities.
As project holders are struggling to furnish bank guarantees in line with the terms defined under the current regulations, mostly because of the current economic and financial difficulties, the need to suspend this obligation arose in order to make it possible to continue with the development of RES projects that have reached a high degree of completion, the government said.
Croatia had on its grid 254.3 megawatts (MW) of installed wind power capacity at the end of March alongside 6.69 MW of biomass capacity and 23.8 MW of solar power capacity, data of the state-run center for the monitoring of business activities and investments in the energy sector, CEI, indicated.