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Croatia's Janaf to diversify into renewables

Green Energy

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Croatian oil pipeline operator Jadranski Naftovod, known as Janaf, said on Friday that it will diversify into renewables as part of its goal to develop new sources of financing, sustainability, and profitability in the long term, news portal SeeNews reported.

The company's management and supervisory boards adopted a business and development strategy until 2030 with a vision to 2050, under which it aims to diversify into low-carbon activities, the company said in a filing to the Zagreb bourse.

Some main strategic initiatives have been defined to enable Janaf's adjustment to current market trends, it added. These initiatives are related to the company's entry in renewable energy market, investments in new technologies, and improvement of the company's annual revenue, the statement said without citing figures.

Majority state-owned Janaf operates terminals for crude oil and oil products located on the island of Krk, as well as in Sisak, Virje, Slavonski Brod and Zitnjak. 

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