The next frontier for green energy in Croatia
A new minibond is spurring further innovation by a leading renewables group
01/12/2025
A groundbreaking renewable energy company in Croatia is creating eight new solar power plants and a network of self-sustaining electric-vehicle (EV) charging stations with the help of a corporate minibond.
Solaris Pons will use proceeds from minibond issue, arranged by Privredna banka Zagreb (PBZ), part of the Intesa Sanpaolo Group, in the total amount of EUR 7 m, to expand its solar capacity by over 23 MW annually, as well as invest in energy storage systems.
It will also create a network of EV charging stations, powered by solar panels that will include self-service coffee bars for drivers.
Vedrana Jelušić Kašić, PBZ’s management board member for the corporate and SME division and investment banking, says: “PBZ, part of the Intesa Sanpaolo Group, acted as sole issue agent and investor in a €7m corporate minibond issued by Solaris Pons – the first with 100 per cent of proceeds allocated to renewable energy.”
"Privredna banka Zagreb, part of the Intesa Sanpaolo Group, acted as sole issue agent and investor in a €7m corporate minibond issued by Solaris Pons – the first with 100 per cent of proceeds allocated to renewable energy."
Vedrana Jelušić Kašić, PBZ’s management board member for the corporate and SME division and investment banking
Over the past decade, Solaris Pons has delivered more than 1,100 solar power-plant projects, generating over 45 GWh of renewable energy for both public and private clients.
It is the leading group in Croatia in the field of renewable energy – responsible for the planning, financing, construction, management and maintenance of ambitious renewables projects.
“We’ve been growing step by step and now we bring everything together: solar, batteries, chargers, smart energy,” says Marino Franinovic, Solaris Pons co-founder.
The initial plan is to build three charging stations: in Osijek (the company’s home since it was founded in 2013), Beli Manastir and Sladojevic.
Long-term, Solaris Pons’ goal is to become a vertically integrated energy provider, covering electricity production, aggregation, storage and supply.
"Thanks to the bank's long-term loan, we installed a solar power plant with a capacity of 1MW that covers a large part of our production. "
Mirjana Mihailović, company director, Konkav Konveks
This minibond issue presents issue of PBZ’s 60th issuer on capital markets and a significant step in accelerating Croatia’s green energy shift.
More widely, the minibond initiative is opening up new access to capital markets for small and medium-sized enterprises. It’s not about the size of the company, but the size of the impact. The Intesa Sanpaolo Group is looking to back companies that are really investing in change.
Solaris Pons is reflective of a new generation of entrepreneurs who are revitalising their local economies while also embracing an international outlook.
"As an international banking group, we’re committed to turning sustainable ambition into measurable impact"
Alice Grittini, head of ESG Business Acceleration at Intesa Sanpaolo
This forward-looking mindset is something that the Intesa Sanpaolo Group is proud to encourage.
“As an international banking group, we’re committed to turning sustainable ambition into measurable impact,” says Alice Grittini, head of ESG Business Acceleration at Intesa Sanpaolo.
She adds: “By aligning finance with ESG principles, we help scale solutions that regenerate business, society and the planet."
