Croatian geothermal developer secures location permit to drill Slatina-3 project
Croatian geothermal firm EES Dravacel has been granted a Location Permit to drill an exploratory well for the planned 20-MW geothermal power plant at Slatina.
Croatian incorporated company EES Dravacel energetika d.o.o (Dravacel) has announced receipt of a Location Permit from the Republic of Croatia Ministry of Spatial Planning and Construction and from the State Property and Administration for Spatial Planning and Permits of State Importance. With this permit, the drilling rig can mobilize to the Slatina-3 project area in preparation for the drilling of the Slatina GT-1 exploration well.
As previously reported, Cindrigo Geothermal Ltd. (Cindrigo), a subsidiary of Guerney-based energy producer Cindrigo Holdings Ltd., has acquired a 90% stake in Dravacel. Dravacel currently holds the geothermal exploration license in Slatina, North Croatia, where the company is planning to develop a 20-MW geothermal power plant. This acquisition is part of Cindrigo’s long-term growth strategy to secure up to 1,000 MW of contractual licenses by 2030.
Cindrigo has also announced securing a loan of SEK 18 million (approx. USD 1.68 million) from Danir AB, the Company’s largest shareholders. A portion of the loan will be used as capital for Dravacel to advance the pre-development of the geothermal project.