Knin - The Slovenian energy company Petrol officially launched its second wind farm in Croatia on Tuesday. The Ljubač wind farm, situated near the town of Knin in south Croatia, had been on a trial run since last summer. Its nine turbines generate around 96 gigawatt-hours of electricity a year.

This is Petrol's second wind farm in Croatia; the first one opened in 2017 near the coastal town of Šibenik. The combined power of both wind farms can meet the needs of 45,000 households.

"Ljubač is our first investment that has been implemented without any subsidies," Petrol CEO Nada Drobne Popovič told reporters in Knin on Tuesday.

The EUR 37 million wind farm received the status of authorised producer in early April and is now able to provide energy to some 30.000 households.

Drobne Popovič noted that the energy company posted a net profit of EUR 124 million. The prognosis for 2022 is also optimistic. "Sales revenue is expected to reach just under EUR 6 billion this year, and we are hoping for net profit to reach EUR 158 million," she said.

The company wishes to be equipped for a green future, stressed Drobne Popovič. They plan to allocate 35% of disposable funds in the 2021 to 2025 investment period towards investments in green transition, straying away from oil and petroleum products due to the current price rises and uncertainties on the energy market.

The Petrol group also operates 30 small-scale solar power plants along with six small hydropower plants. An EUR 17 million investment into three solar power plants near Knin should be finalised at the beginning of next year.

Petrol has focused its renewable energy investments on Croatia due to the country's strategic importance. Similar projects are underway in Bosnia and Herzegovina, and Serbia.

The energy provider's goal is to reach 68.9 megawatts in installed power from renewable sources of energy. Petrol's board member Jože Bajuk said last year the total amounted to 100 gigawatts while this year they hope to reach 170 gigawatt hours.