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!

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!

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.

Marsh – our new corporate member

XEnergy’s corporate membership has expanded to include a new member – Marsh Croatia, which offers specific expertise in insurance, reinsurance and risk management, especially in the energy sector.
Marsh McLennan is the world’s largest risk management company (NYSE: MMC) with 150 years of corporate tradition. Marsh McLennan employs more than 85,000 people and operates in more than 550 offices in 130 countries around the world. Total revenue in 2022 was more than $20 billion. In Croatia, Marsh operates as a broker for insurance and reinsurance, and from 2023 Marsh McLennan is integrating all 4 global brands into its business as part of a new strategy: Marsh, Mercer, Oliver Wyman and Guy Carpenter. Global expertise at the local level together with local market knowledge are their important advantages.

In the developed world, and particularly in European Union countries, licensed insurance and reinsurance brokers are an indispensable part of any reputable company’s business and play a unique role in protecting policyholders (companies). Without a licensed broker trained in high quality coverage and risk analysis, it is difficult to enter into a proper contract with all required coverages while conducting business in a transparent manner.

In addition to the “usual” types of insurance, Marsh Hrvatska’s office closely specializes in insurance requiring special skills, such as management liability insurance, cyber insurance, indemnity insurance and reinsurance in all sectors, of which the energy sector stands out in particular. Deeply specialized quantitative skills and sophisticated modeling ensure their clients are well informed and prepared to make risk and capital decisions.
We welcome our new member and look forward to working with them!

Dalekovod d.d. – our new corporate member

We are pleased that the company Dalekovod d.d. has become our corporate member and will make an important contribution to the quality of our membership and the potential of cooperation between our members.

In more than 65 years of business, Dalekovod has developed and is today one of the most important players in the energy transition in Croatia and many countries around the world to which it exports its products and services. Dalekovod Group, with its subsidiaries, branches and offices in Croatia and around the world, specializes in the design, construction of transmission lines and substations, equipping tunnels, roads and highways, installation of metal structures (halls and interiors), design of energy and infrastructure facilities, production of steel lattice towers for transmission lines and other metal products. Particularly important is its role in the construction of the power grid, which is an indispensable prerequisite for the desired integration of renewable energy.

As the President of the Board of Directors Tomislav Rosandić points out, “The areas of the basic mission of the XEnergy – strengthening the position and visibility of women in energy transition projects, promoting the principles of sustainable development, accelerating the development of renewable energy sources and innovative energy and technology solutions – are the principles and policies that we at Dalekovod consider important and possibly key elements of corporate sustainability and improving the competitiveness of our company. We consider our contribution to the general development of the same to be extremely important. In this context, XEnergy, and by extension Dalekovod, as a member and partner of the association, have the opportunity to make a significant contribution to the policy-making of inclusion, sustainability and responsible business with the aim of long-term competitiveness, by engaging relevant stakeholders in the energy sector, given the importance of the green and digital transformation.”

We welcome our new member and look forward to working together!

Doğus Group – our new corporate member

It is with great pleasure that we introduce our new corporate member – the powerful Doğus Group, one of the largest private sector conglomerates in Turkey, with a portfolio of 250 companies in 7 industries. In Croatia, Doğus Group is known as the first Turkish investor in our country and has been present in Croatian tourism for 12 years. It has previously built a chain of marinas and hotels, but has since sold these projects and is currently developing the most challenging and valuable project – the reconstruction of the Maraska Hotel in Zadar.

It will be the first hotel in Croatia under the Hyatt luxury brand. Maraska is currently the largest Doğus project in Croatia, which includes not only the hotel industry, but also the development of branded real estate. Hotel Maraska will be a top hotel with a residential complex of luxurious apartments.

Burak Baykan, Regional Director of SEE Doğuş Group was the President of the Turkish-Croatian Business Council, a long-time member of the management team and also President of the Association of Foreign Investors in Croatia since December 2022.

PBZ – new corporate member of XEnergy

Ponosni smo što je naš novi korporativni član postala Privredna banka Zagreb d. d.

We are proud to announce that our new corporate member has become Privredna banka Zagreb d. d.
PBZ is part of the Intesa Sanpaolo Group, one of the leading banking groups in Europe with a strong commitment to ESG in its operations and a commitment to achieve net zero emissions by 2030 for its own emissions and by 2050 for its loan and investment portfolios. PBZ strongly supports projects that contribute to sustainable development and, in this sense, is very focused on financing projects that include energy efficiency, environmental protection, renewable energy sources and sustainable development. The Sustainable Business Goals integrate three key factors, namely environmental, social and governance (ESG) aspects, which also include criteria for the circular economy and green projects.

Vedrana Jelusic Kasic, Member of the PBZ Management Board and XEnergy Advisory Board, states:

“PBZ is helping its clients to shape a new economic ecosystem, and the circular economy and sustainable development represent a great opportunity for all participants in the economy and their integration to achieve a common goal. In the corporate business segment, we have developed credits for our customers for sustainable business and for investment in digital transformation. We believe it is important to strengthen communication with our clients on ESG outcomes by defining a measurable set of key objectives, and we have just launched a project with ESG workshops organized throughout Croatia, mainly for SME clients.”

XEnergy recognizes the importance of the financial sector to the green transformation and is therefore particularly looking forward to working with our new corporate member in the future.