New corporate member – CROPEX

We are thrilled to present our new corporate member – Croatian Power Excange Ltd (CROPEX)!

CROPEX is a company established to provide a central location for trading electricity to their market participants and acts as Central Counter Party between sellers and buyers of electricity. It takes the risks of buying and selling electricity for all day-ahead and intraday trades concluded on the trading platform.

CROPEX witnessed unprecedented growth in 2023, with record-breaking volumes traded across all segments with almost doubling the traded volumes on the Intraday Market. This accomplishment solidifies CROPEX’s position as the preferred marketplace for energy trading and as a reliable partner.

Director Ante Mikulić emphasizes: “Initiatives integrating renewable energy sources into our trading platforms have not only contributed to a greener future but also positioned us as a leader in fostering a sustainable energy ecosystem through our dedicated Auctions for Guarantees of Origin. During 2023 we have successfully cleared energy with total value of just above 1,1 billion of Euros.”

In 2023 several pivotal milestones have shaped the trajectory of CROPEX and solidified their position in Croatia’s power exchange landscape. Ante Mikulić explains the successful introduction of Croatian Power Futures on EEX, in June 2023: “This significant milestone not only broadens product offering for Croatian Market but also provides market participants with valuable tools for risk management and optimizing their energy portfolios. The introduction of futures enhances the overall depth and sophistication of short-term markets that we are operating, reinforcing our commitment to innovation in the energy trading sector.” CROPEX has also undertaken a strategic expansion of the Guarantees of Origin Market. This initiative reflects its commitment to promoting renewable energy and supporting the transition to a sustainable energy future. By expanding the Guarantees of Origin Market with Guarantees outside of incentive schemes, they have enabled a transparent market for all power producers, regardless of country of production. Finally, their excellence has been further underlined by the introduction of an intraday backup solution, which increases the reliability and resilience of the intraday trading platform.

We congratulate CROPEX on their great success and look forward to our cooperation!

Xenergy held the first PPA workshop

XEnergy organized an insightful workshop on Power Purchase Agreements (PPAs), which was attended by 50 eager participants. The workshop provided a comprehensive understanding of practical strategies and best practices, highlighting the different types of PPAs, associated risks, risk management and many other important elements of successful #ppa negotiation and implementation. Through engaging discussions and expert-led presentations, participants gained valuable insights into the financial, operational and legal aspects of PPAs.

We would especially like to thank our experts and lecturers Minea Skok, Tina Jakaša, Martina Vajdić, Saša Jovičić and Mario Klaric, all members of XEnergy, who shared their expertise on PPAs with us, enriched our understanding of complex concepts and provided invaluable insights.

The workshop not only served as a platform for knowledge sharing, but also fostered meaningful networking opportunities among industry experts.

We are gratefull to our partner KONČAR Group for supporting us.

Thank you all!

New corporate member – HOPS

We are particularly pleased to present our new corporate member HOPS, a key company for the success of the energy transition in Croatia. HOPS is the Croatian transmission system operator, the owner of the entire Croatian transmission network (voltage levels 400kV, 220kV and 110kV) and provides the transmission of electricity as a regulated public service. It operates according to the model of an independent transmission system operator and manages the regulatory area of the Croatian electricity system (EES). In the interest of secure and high-quality electricity supply to customers and electricity exchange, the Croatian EES is interconnected with the EES of neighboring countries and other ENTSO-E members which together form a synchronous network in continental Europe.

HOPS not only manages the EES of the Republic of Croatia, but is also responsible for electricity transmission, maintenance, development and construction of the transmission grid, which is why its role in achieving the goals of the Green Deal and the energy transition is invaluable. Without proper development of the network, the integration of renewable energy and the decarbonization that the Republic of Croatia is striving for will not be possible.

In 2024, HOPS is investing 200 million euros in the development of the transmission network, of which 140 million euros are planned from EU funds. One of the outstanding investments this year concerns the reconstruction of transformer stations damaged by earthquakes and the rehabilitation of transmission lines affected by last year’s major storm – says Igor Ivanković, President of the HOPS Management Board. In addition, a significant number of high-voltage facilities are approaching the end of their working life, and the security of supply and reliability of the transmission network will be ensured by the above-mentioned measures. The implementation of the project ‘Revitalization, construction and digitalization of the energy system and supporting infrastructure for the decarbonization of the energy sector’ from the National Recovery and Resilience Plan (NPOO), which HOPS signed in September 2022, is also underway. The NPOO is investing in 11 projects, from increasing the transmission capacity of the grid to upgrading existing transmission lines and the submarine cable replacement program, with a total value of 218 million euros and a completion date of mid-2026.

New corporate member – JANAF

It is with great pleasure that we introduce our new corporate member – JANAF, one of the most successful and profitable energy companies in the region. JANAF’s focus is on the transportation and storage of oil and oil derivatives, but the company has recognized the importance of the green transition in time and is diversifying its business interests in line with new trends.

Janaf has 2.1 million tons of storage capacity for crude oil and 242 thousand cubic meters for oil derivatives. Storage accounts for around 35 to 40 percent of total revenues, with the remainder coming from oil transportation. In 2023, Janaf has signed transportation and storage contracts with the companies NIS, MOL, Lukoil, Vitol, Ina, Litasco, Adria Oil, Rijeka trans, Delta Oil International and with the Hydrocarbons Agency. As emphasized by Vladislav Veselica, member of the Management Board, the company is recognized at the EU level as a company of strategic importance and represents an important energy hub of Central Europe, which it has proven by ensuring the security of supply of the entire region in times of great geopolitical uncertainty.

It should be noted that the previous oil transport was completely without negative impact on the environment and the company is intensively restructuring and preparing for the era of decarbonization. As Veselica explains: “We have already started to diversify our business in this regard. We can point out that we have already realized the projects of two solar power plants – one at the Sisak Terminal and the other at the Žitnjak Terminal, while the project documentation for solar power plants at the Omišalj and Slavonski Brod terminals are also in preparation. . Our goal is to transform JANAF  into an energy company that will base its operations on the production of electricity from renewable energy sources with full climate neutrality.”

Welcome and we look forward to our cooperation!

New corporate member – Forte Solar

Our new corporate member is Forte Solar d.o.o., one of the leading builders of solar power plants in Dalmatia with over 50,000 installed panels. Forte Solar offers complete solutions for the construction of solar power plants, from consulting, planning, construction, creation of complete documentation to maintenance. Their references include the construction of solar power plants for hotel complexes such as Sunčani Hvar and Hotel Mondo Split, food industry companies such as Premis Makarska, Lepi Dečki Čakovec, Narona Impex Metković, Frigo Bonsai Opuzen and many other companies such as Kingtrade Makarska, Max&Moris Split, Jasenka Opuzen, Termodinamika Split etc.

Given the large and growing interest of companies and households in installing their own solar power plants to reduce electricity costs and exposure to market fluctuations, Forte Solar is expanding rapidly and offering extensive experience and complete solutions for the construction of solar power plants.

We are pleased that our corporate membership is expanding to include small and medium-sized companies that are actively contributing to the energy transition.


New corporate member – VSB Group

Another international company that develops projects in the field of renewable energies has become our corporate member. VSB, headquartered in Dresden, is one of the leading full-service providers in the field of renewable energies. Its core business is the national and international project development of wind and photovoltaic parks, their operational management and the operation of its own parks.

In addition, VSB supports customers from industry and commerce in matters of energy generation and efficiency. Since 1996, VSB has put more than 700 wind energy and photovoltaic plants into operation. Together with its affiliated companies, the group employs over 500 people at 22 locations. The economic strength of the VSB Group gives the Croatian subsidiary an important advantage in the market and the possibility to offer a complete service for the development of RES projects.

Welcome and we look forward to working with you!

XEnergy education – PPA

XEnergy – Empowering Women in Energy Transition invites you to the training for the purchase of renewable energy, i.e.  Power Purchase Agreements (PPAs), which will take place on February 15, 2024 in Zagreb. The training is intended for our members, but also for all other interested parties.

The lecturers are proven experts and members of XEnergy with many years of experience in working and monitoring market trends: Minea Skok, Tina Jakaša, Saša Jovičić and Martina Vajdić. A concrete example of a signed PPA contract will be presented by Mario Klarić. Their expertise guarantees first-class training and relevant information that will contribute to your professional development. Sign up, improve your knowledge and skills on this extremely important topic and become a relevant participant on the electricity market. The training offers participants the opportunity to ask questions to the lecturers and exchange opinions and experiences. Interaction and networking will contribute significantly to your professional development.

XEnergy’s goal is to promote sustainable development by strengthening the capacity of all market participants in relation to new contract models for the purchase of renewable energy. It is important for us to strengthen the professional community and contribute to a better understanding and application of innovations in the energy sector. Our mission is to connect all market participants and create opportunities for business cooperation in the renewable energy sector. We also want to make a contribution through educational programs.

We look forward to your participation and working together to create the energy solutions of the future!

The number of participants is limited and applications are open at the following link:


Education price: 300 Eur, for XEnergy members 220 Eur. If there is a commitment, the amount will be increased by VAT.

TT cables – new corporate member

XEnergy is expanding its membership and we are pleased to introduce a new corporate member – TT cables. TT cables, in collaboration with XEnergy, wants to highlight its commitment to sustainability and promote women in the energy transition. TT cables is the leading regional manufacturer of low-voltage cables. Together with its 5 subsidiaries, the company employs over 350 people and exports to more than 50 countries around the world. The company is ISO 14001 certified for its environmental management and works with local partners to fully recycle most waste materials.

Their goal is to digitize business processes, which will also significantly influence their path to a low-carbon future. TT cables combines modern technology from major European machine manufacturers, young and motivated employees and experienced engineers with a clear vision of how to penetrate the demanding cable market.

The company was founded in 2008 and today supplies all major wholesalers and cable specialists in Europe, Africa, the Middle East and the North American market. Not only do they utilize renewable energy sources such as hydropower, but they are also planning to build solar power plants for their own needs. Their commitment to sustainable business practices is demonstrated by setting ambitious targets for reducing greenhouse gas emissions and publishing the first ESG report, which emphasizes transparency, responsibility and positive environmental and community impact.

We welcome our new member and look forward to working with them!

ACCIONA Energia – our new corporate member

Our new corporate member is ACCIONA Energia, the world’s leading company in the field of renewable
energy investments! With more than 30 years of experience, this company has produced enough green
energy worldwide to power 7.6 million homes per year, reducing global CO2 emissions by more than 13
million tons. ACCIONA Energia is also a leader in compliance with ESG standards and has been awarded
the highest rating by S&P Global Rating. Since 2015, ACCIONA Energía has been declared the “greenest”
electricity producer for nine consecutive years, according to the Energy Intelligence Top 100 Green
Utilities Rating.

ACCIONA Energía has been present in Croatia since 2002 and is one of the leading developers of
renewable energy sources. Since 2013, ACCIONA Energía has been managing the Jelinak wind farm with
an installed capacity of 30 MW and is in the construction phase of a new wind farm with an installed
capacity of 27 MW and 45 MW under CfD PPA contracts signed as part of the market premium offered

As Aljoša Pleić, Director of Acciona Energija Global Croatia, emphasized, Acciona Energia plans to
build the largest solar power plant in Croatia so far, the 150 MW PROMINA. This new large-
scale project in the development phase will have an installed capacity of 150 MW and will be built on
state-owned land in the Sibenik-Knin country.

We look forward to working with ACCIONA Energia. ACCIONA Energia will be one of the important
participants in our PPA platform, which will soon be operational and will connect producers, consumers
and electricity suppliers.

Second round table was successfully held

XEnergy organized a round table entitled “The main business risks in 2024 – enterprise risk management
strategies in Croatian companies”, where the views of various industries and sectors on the business risks that await us in the coming year were presented. Changes in national and international macroeconomic, regulatory, political and climate environment bring new risks and the need for their strategic management. The discussion focused on the risks of the ESG spectrum, in particular the risks of the green transition, which is rapidly changing the business conditions of energy companies and all other businesses.

The roundtable brought together respectable keynote speakers and panelists. On behalf of the Ministry of Finance, Ana Zorić, Director of the Economic and Financial System Administration of the Ministry of Finance of the Republic of Croatia, Ante Žigman, President of the Board of Directors of HANFA, and Magdalena Šoljakova, Head of the IFC Office for Croatia, Slovenia and North Macedonia, as well as Danijela Miloš Sprčić from the Faculty of Economics in Zagreb gave an introduction to the panel discussion, which she moderated. The discussion was attended by top managers of leading Croatian companies from strategic sectors that are particularly exposed to the risks of the green transition. The following people took part in the panel discussion: Gordan Kolak, President of the Management Board of Končar Group, Martina Dalić, President of the Management Board of Podravka, Marko Ćosić, President of the Management Board of Đuro Đaković Group, Sabina Škrtić, Member of the Management Board of ENNA Group, Vedrana Jelušić Kašić, Member of the Management Board of PBZ, Mario Klarić, President of the Management Board of Professio Energia and Marko Čižmek, Member of the Management Board of Valamar Riviera.

As we have heard, the year 2024 will also pose a challenge in all areas. Climate change is alreadym impacting the corporate sector, the new ESG regulations will soon change the way most companies operate if they want to be competitive, and the fear of high energy prices is encouraging the corporate sector to invest in its own solar power plants. Corporate risk management is becoming increasingly important to help the economy cope with the increasing changes.

The financial sector has recognized the importance of financing green projects and is offering new financial products that promote renewable energy and a low-carbon economy. Although the green transition and its associated challenges are perhaps the most obvious segment of ESG risks, this does not diminish the importance of social and governance issues. One of these is a higher proportion of women in management boards. Their share on the boards of listed companies must reach 40% by June 2026. One of the goals of the. XEnergy association is precisely to increase the participation of women at all levels of decision making, and through their activities they promote the role and visibility of women in all sectors, especially those related to the energy transition. Therefore, also at this event, successful women together with their male colleagues demonstrated that running successful businesses requires a synergy of knowledge, management skills and social entrepreneurship.