Alina Oprea • 8 January, 2024 at 6:42 PM
Croatian oil and gas company INA has announced it plans to invest €40 million ($46 million) in a biogas/biomethane plant using agricultural waste. The company seeks to transform the Sisak industrial zone in central Croatia into a renewable energy center. INA, which used to run a loss-making petroleum refinery in Sisak, plans to self-finance the majority of the project and seeks co-financing from the European Union's Recovery and Resilience Facility.
The company is currently in the process of selecting contractors for facility design and construction, and obtaining internal approvals, according to SeeNews.
A sufficient quantity of agricultural waste materials for the facility has been identified, and agreements have been signed with potential suppliers. Once final approvals for the facility construction are granted, commercial contracts will be offered to the material suppliers.
These types of facilities usually take between two and three years to build, the company noted.
INA has already built a 2.6 MW solar power plant in Sisak, which is currently in trial operation. Additionally, other projects involving renewable energy sources are under consideration.
In May, INA launched a trial operation of a 10.2 MW solar power plant in Virje, in the northern Koprivnica-Krizevci County in line with its drive to transition to renewable energy sources. Back then, INA announced plans to explore geothermal energy, produce green hydrogen, advance projects for continuous carbon dioxide storage, and assess the potential of wind energy in the Adriatic Sea.
Hungary's oil and gas group MOL is the largest shareholder in INA with a 49.08% stake, followed by the Croatian government with 44.84%.