Croatia's HEP to borrow 63 mln euro ($71 mln) from EIB to refinance green projects

The Croatian government said it granted approval to state-owned power supplier Hrvatska Elektroprivreda (HEP) to take out a loan of 63 million euro ($71.4 million) from the European Investment Bank (EIB) to refinance investments made in renewable energy projects.

The borrowing will cover investments in a wind farm and five solar power plants, economy minister Tomislav Coric said during a cabinet meeting, taccording to a press release issued by the government on Thursday.

One of the government's main goals is to boost electricity production from renewable sources to 30% of energy consumption next year, prime minister Anderej Plenkovic said earlier this month.

($=0.881 euro)

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