The Project company, Vjetroelektrana Rudine d.o.o., is a subsidiary ultimately 70% owned by RP Global Holding, a privately held Austrian independent power producer with over 25 years of experience in renewable energy. The remaining 30% is owned by private individuals.
To date RP Global has developed and constructed 28 renewable energy projects with a total installed capacity of more than 286 MW, focusing on small hydro power and wind. Out of the 28 projects 10 were wind farms, with a total installed capacity of 183 MW.

The total project cost is estimated to be up to EUR 62 million including VAT. The proposed IFC investment is: i) an A Loan for IFC’s own account of up to EUR 20 million; and ii) a B Loan of up to EUR 25 million

27.22 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	27.22
Equity

* These investment figures are indicative

The site is located approximately 6 km northwest from Slano, 25 km northwest from Dubrovnik in Croatia.

Development impact includes: (i) increasing Croatia''s wind energy capacity by 34.2 MW; (ii) associated displacement of carbon from the country''s substantial thermal generation plants, reduction of pollution and contribution to the effort to combat global warming; (iii) helping Croatia meet EU renewable energy targets; (iv) reducing Croatia''s energy dependance on imports

IFC is well positioned to continue supporting RP Global and development of Croatian wind sector in an efficient way; this is RP Global''s second wind farm in the country. Financing is scarce in the maturities, structures and terms necessary for such infrastructure project in the Croatian renewable energy sector. IFC is able to provide long term financing and mobilize commercial financing in a challenging market.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Payment to Government	Annual Payments ($M)		Not Available	Not Available	Not Available
Stakeholder Engagement(%)	Stakeholder Engagement(%)		Not Available	Not Available	Not Available
Occupational Health and Safety(%)	Occupational Health and Safety(%)		Not Available	Not Available	Not Available
Direct Employment (#) - Operations and Maintenance	Employment (#)		Not Available	Not Available	Not Available
Female Direct Employment (#) - Operations and Maintenance	Female Employment (#)		Not Available	Not Available	Not Available
Temporary Employment (#)	Employment (#)		Not Available	Not Available	Not Available
Female Temporary Employment (#)	Female Employment (#)		Not Available	Not Available	Not Available

The proposed IFC loan to the project is a Category B project because a limited number of specific environmental and social impacts may result, which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. Potential impacts in construction activities besides being mitigable are likely to be limited to project site; short term; and not expected to impact environmentally sensitive areas. Further, it is possible to readily design and implement engineering and management measures to mitigate adverse impacts during construction and operations.

There will be no physical or economic displacement related to this project thus Performance Standard 5 is not applicable. The wind farm is mainly located on government-owned land that is sub-leased to RP Global (one turbine will be located at privately-owned land based on longterm lease agreement). The land is not currently in use for any purpose by its owners.

Performance Standard 7 (PS 7) is not applicable as there are no indigenous peoples residing in the project area.

IFC’s appraisal considered an Environmental Management and Monitoring Plan (EMMP) for the Project and gaps between these plans and IFC requirements. Where necessary, corrective measures, intended to close these gaps within a reasonable period of time, are summarized in the paragraphs that follow and in the agreed Environmental and Social Action Plan (ESAP) disclosed in this review summary. Through implementation of the EMMP and the ESAP the Project is expected to be designed and operated in accordance with Performance Standards objectives.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.