Novalja/Vienna, 09.10.2025 – The EBRD has awarded a €12.2 million loan to RP Global’s Croatian solar project Novalja. The deal is structured as a senior non-recourse project finance loan, with financing coming exclusively from the EBRD. Construction of the PV plant on the island of Pag commenced in May and is in its final stages. Start of production is slated for December 2025.
“We are proud to have once again met the high standards of the EBRD. Knowing the crucial role they play in sustainable development and the demanding criteria that precede such a loan, we take it as confirmation that our team has done a great job with the Novalja PV plant”, states Jorge Rodriguez, RP Global’s CFO.
The Novalja project was awarded the market-premium tariff in the last auction. It will contribute to Croatia’s climate goals by cutting CO₂ emissions by approximately 6,400 tonnes.
Having already connected 77.9 MW to the Croatian grid via two wind projects, RP Global Croatia also has further wind and solar PV projects in advanced stages of development.
RP Global is an IPP (independent power producer) developing a pipeline of +14 GW(p) of solar PV, wind and storage projects, with strong local teams in seven European markets. The large-scale developer, operator and investor has over 40 years of experience in the renewable energy sector. The company’s headquarters are in Vienna, Austria and Madrid, Spain.
