London-based infrastructure management firm Ancala has strengthened its presence in the renewable energy sector with the acquisition of a 5 MW biomass facility in Croatia from French renewable energy producer Akuo. This strategic purchase marks a significant addition to Ancala’s Central and Eastern European EU Renewables Platform, which focuses on sustainable energy production from forestry and agricultural biomass.
The newly acquired Elektrana Grubišno Polje (EGP), located east of Zagreb, operates as a combined heat and power (CHP) plant, generating 5 MWh of electricity and 6.5 MW of heat energy. The site, which also features the adjacent wood drying facility Sirocco, benefits from long-term feed-in tariffs and supply agreements, ensuring its continued role in Croatia’s green energy transition.
This transaction, while financially undisclosed, provides an exit for Akuo, a global player in renewable energy with a notable presence in Croatia since 2013. Akuo will now shift its focus towards its core operations in solar, wind, and storage projects. The French firm is currently developing a significant 400 MW photovoltaic plant in North Macedonia, reinforcing its commitment to expanding renewable energy capacity in the region.
The acquisition is Ancala’s second investment in Croatia, following the purchase of a 5 MW biomass plant in Gospić, commissioned in 2021. With this latest addition, Ancala’s renewable energy capacity in Central Europe has effectively doubled. Chris Lee-Evans, Vice President of Ancala, praised the transaction, highlighting the operational expertise of the existing management team, led by Laurent Sessa, who will continue to oversee the plant’s operations.
“We are excited to work with such an experienced team to accelerate growth and explore further expansion opportunities across Central and Eastern Europe,” Lee-Evans said, noting that the acquisition aligns with Ancala’s strategy of pursuing organic and acquisitive opportunities in the renewable sector.
Ancala, which manages over EUR 4 billion in assets and has a diverse portfolio spanning 15 countries, has invested nearly EUR 1 billion in critical infrastructure companies. The acquisition of EGP strengthens its foothold in the renewable energy market at a time when the transition to sustainable energy is accelerating across Europe.
