Krutnjak well, Croatia (source: Municipality of Legrad)Bukotermal is a joint venture company between the Varazdin County (85%) and the Mali Bukovec municipality (15%). We first reported on the company’s investigation for geothermal resources in the Lunjkovec – Kutnjak field back in 2022, which also involved the testing of an existing geothermal borehole, Kutnjak-1.
Bukotermal now has a six-month period to determine the exploitation method and environmental protection measures for the project, with the ultimate goal of constructing one or more facilities for geothermal power generation or heat supply. Darko Markovic, head of the Mali Bukovec municipality, said that construction is expected to start within the next two years.
Alen Pozgaj, CEO of Bukotermal, said that over EUR 2.5 million have been invested on the project so far. To proceed with the design and construction of the power plant, he said that around EUR 50 million more will be needed.
Geothermal development in Croatia seems to be just at the cusp of a breakthrough. More recently, Croatia’s Ministry of Economics and Sustainable Development awarded exploration licenses for five geothermal blocks to three companies, following a public tender that ran for about six months.
