ENNA to invest €1 billion in green projects in Croatia

Alina Oprea
The Energia Naturalis (ENNA) investment group from Croatia is starting preparations for an initial public offering (IPO) and plans to invest over €1 billion into green projects in Croatia. The company is developing large renewable energy projects, primarily solar and geothermal. ENNA started last year a new period of strategic development which will be marked by significant investments. According to a press release, the process of entering the capital market is expected to take five years and one of the options under consideration is the Zagreb Stock Exchange.

Its main business lines remain renewables, transportation, logistics, and food, and in the future, it will put a sharper focus on providing energy independence, sustainability, and self-sufficiency in the production and distribution of food.

The company representatives say that ENNA continues its investments in the development of transport and logistics, via investments in railway cargo and ports, particularly via the strategic Rijeka Gateway on the northern Croatian Adriatic coast, which aspires to be a new logistics hub in central Europe and the most important container terminal in the Adriatic Sea. Rijeka Gateway is a joint venture project of ENNA and APM Terminals, part of the Danish logistics group Maersk.

The overall value of their investment is estimated at €480 million and the future terminal in Rijeka is to bring more than one million new container units.

Natural gas trader, importer, and supplier Prvo Plinarsko Drustvo d.o.o. (PPD) which is a key division of ENNA is in the process of exiting the group. PPD, which has business operations in Switzerland, Italy, Hungary, Slovenia, and Romania, and generates 70% of its revenue on foreign markets, will be in direct ownership of Blue Horizon, a company of local businessman Pavao Vujnovac, who is the founder of ENNA. The change will enable PPD to achieve sustainable growth, expand its business in existing markets, and enter new European markets, ENNA said.

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Green Forum  |  15 November, 2024 at 7:40 AM
Green Forum  |  15 November, 2024 at 7:36 AM