Construction of Croatia's first hybrid geothermal power plant begins

Construction works on Croatia's first hybrid geothermal power plant, for which the European Commission gave the AAT Geothermae company a EUR 14.7 million grant in 2014, were inaugurated in Draskovec near Prelog, northern Croatia on Friday.

The project is using state-of-the-art technology for energy production from geothermal sources, which will result in clean, green energy, project leader Danijel Kusic said, adding that the power plant will produce 18.1 megawatts of electricity and 89 megawatts of heat.

The power plant will serve to build a medical tourism complex as well as for greenhouse production and heat distribution.

Prelog Mayor Ljubomir Kolarek said the EUR 75 million investment would boost local economy. The first stage of the project, the construction of the power plant, will be completed by the end of the year.

Last update: Fri, 08/04/2016 - 20:54

More from Business

Freight train from China crosses 12,000 kilometres to London

The first Britain-bound freight train from China arrived in London on Wednesday, completing an 18-day trip across...

US prosecutors finalize 7.2-bln-dollar settlement with Deutsche Bank

The US Justice Department announced a 7.2-billion-dollar settlement Tuesday with Deutsche Bank over allegations that...

General Motors announces 1-billion-dollar investment in US workforce

General Motors will join other carmakers in opting to invest and hire inside the United States, the company...

Tobacco giant BAT agrees to 49-billion-dollar takeover of US rival

British American Tobacco Plc on Tuesday said it has finalized a deal to acquire 57.8 per cent of shares of US rival...

IMF raises China growth forecast, but warns of sharper slowdown

China's economy will expand by 6.5 per cent this year, the International Monetary Fund said on Monday, as it warned...