The World Bank Group’s International Finance Corp. and UniCredit SpA will provide 55 million euros ($68 million) in loans for a wind farm in Croatia as the nation seeks to boost renewable energy use.
The IFC will loan 20 million euros for the Danilo wind farm developed by the local unit of RP Global Holding, which is based in Vienna, the IFC said today in a statement from its headquarters in Washington.
The IFC also mobilized 35 million euros from UniCredit through a syndicated loan for the 43.7-megawatt park, which will cost a total of 84.3 million euros, according to the statement.
The Danilo park in central Dalmatia will power homes and factories when it’s operating, which is due at the end of next year. The project will boost supply of wind power by 34 percent in the nation bordering the Adriatic Sea. It’s set to become the European Union’s 28th member in July 2013.
The 19-turbine project will be located across sites at Velika Glava, Bubrig and Crni Vrh, according to the statement.