Why this is important to Wisconsin businesses: The move aligns with Wisconsin’s strengths in energy storage, grid automation, and renewable technologies.
Croatia, whose steadily growing economy benefits largely from tourism, is focusing attention on energy reform. In a speech to the United Nations Climate Change Conference in November 2024, Prime Minister Andrej Plenković called climate change “one of the most pressing issues of our time” and said there is an “urgent need for global action.”
In 2022, renewables made up about 30% of Croatia’s energy consumption, and with projects such as green hydrogen and geothermal development, the country aims for 42.5% renewables by 2030, Plenković said.
Solar energy installations have multiplied in the past few years. As of November 2024, Croatia had 25,406 solar power installations operating, with a total capacity of 776 megawatts (MW). That represents a 60% increase since the end of 2023, according to Balkan Green Energy News. The report cited an analysis by Energy Institute Hrvoje Požar that said solar power in Croatia will jump from 222 MW in 2022 to 2,382 MW in 2030, and by 2040, solar capacity will surpass hydropower.
In 2023, Croatia’s state-owned power utility Hrvatska Elektroprivreda (HEP) said it planned to invest €1.6 billion ($1.8 billion USD) in renewable energy projects by 2030. That involves developing 60 renewable energy projects with a total capacity of more than 1,500 MW. HEP already has been involved in a major plan to upgrade its hydroelectric facilities over the past several years that will result in the addition of 160 MW of hydro power by the time the improvements are completed in 2028.
Geothermal energy is another area of interest. The government seeks to increase geothermal power generation capacity from 10 MW to 68 MW over the next decade. The Croatian Hydrocarbons Agency received €50 million ($58 million USD) to explore the possibility of geothermal projects near six Croatian cities, Zelena Hrvatska reported.
With plans to modernize infrastructure and expand renewables, opportunities arise for Wisconsin firms in solar, hydropower, and energy storage.
To gain market intelligence and meet industry participants, Wisconsin companies can visit European energy industry conferences such as E-World Energy & Water or EM-Power Europe.
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