Kobarid endeavours to become energy-sufficient in cooperation with the global electricity-trading platform SunContract. The project is estimated at EUR 1.5m, according to a memorandum of understanding signed earlier this week.

The municipality aspires to not only meet but to surpass the EU's commitment of increasing the share of renewables to 32% by 2030.

The measure will reduce costs of the municipality itself - Kobarid's electricity costs currently stand at around EUR 150,000 per year - as well as its residents.

According to the municipality representatives, the project's first stage will include four solar arrays with a combined power of 500 kW.

The director of SunContract, a blockchain-powered peer-to-peer platform, Gregor Novak stressed that the project was a significant stepping stone towards the establishment of regional energy self-sufficient communities.

"First we estimate the electricity costs of a particular community, and then we install an appropriate number of photovoltaic plants. It's not even required to cover all the roofs since only 15 installations are needed to turn a village with 30 houses completely self-sufficient," explained Novak.

Besides using renewable energy to drive self-sufficiency, the municipality also plans to broaden its tourism appeal through its green efforts.