The exploration allow for the Babina Greda 2 geothermal website in Croatia has now been acquired by the Enna Geo underneath the ENNA Group.
Enna Geo, a subsidiary of the Energia Naturalis (ENNA Group) has acquired a majority stake within the buying and selling firm Geotermalni Izvori, thus buying the exploration allow for the Babina Greda 2 space within the county of Vukovar-Srijem in Croatia. The shares within the firm have been transferred to Enna Geo’s daughter firm, GeoPower Babina Greda, following a public tender introduced earlier this 12 months.
Geotermalni Izvori had beforehand been co-owned by the Vukovar-Srijem County and the Municipality of Babina Greda. Each shareholders bought their 45% stake to GeoPower Babina Greda, every on retaining 5% of the shares. Thus, Geotermalni Izvorii now 90% owned by the ENNA Group. A suggestion of EUR 900,000 was accepted for the acquisition.
The Vukovar-Srijem County and the Municipality of Babina Greda has supplied all of the pre-conditions to begin geothermal drilling within the Babina Greda 2 website. Nevertheless, the big funding wanted to maneuver ahead with the venture is past that the County and Municipality can present. Thus, a choice was made to promote the buying and selling firm and exploration rights.
“My locals know the way to say ‘by the point one thing strikes, the water will settle down under.’ The water won’t settle down. I’m extraordinarily completely satisfied that we received good companions that may actually discover funds and spend money on the additional growth of geothermal vitality within the space of the municipality Babina Greda,” stated Josip Krnic, Mayor of Babina Greda. He additionally additional indicated that there are potential new buyers for the venture from Norway and Slovakia.
The ENNA Group already holds the exploration rights for the Babina Greda 1 website, taking up the venture from entrepreneur Dragan Jurilj again in 2022.
“With how the exploration fields of Babina Greda 1 and Babina Greda 2 are positioned on one geothermal deposit that varieties one geological and hydrodynamic unit, our choice to accumulate Geotermalni Izvori is logical from each a technical and an financial standpoint,” commented Ivana Ivancic, Director of Enna Geo.
The geothermal potential of Babina Greda had already been recognized again in 2019, and growth of this website had been intensively focused since 2020.
Ivancic additional acknowledged that the plan is to develop the 2 subject to provide geothermal energy. Nevertheless, there’s a complete spectrum of alternatives that the venture can create contemplating the multiplier impact of geothermal growth on the financial system.
Supply: Vukovar-Srijem County