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County info
Information about the county:
http://www.investincroatia.hr/region/medimurje-county/
COUNTY CHAMBER ČAKOVEC
Ivana Gorana Kovačića 2
40000 Čakovec
tel. +385 (0)40 311 160
fax +385 (0)40 311 161
hgkck@hgk.hr
Contact person:
Jagoda Horvat (jhorvat@hgk.hr)
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| Project | Hortus Croatiae - The Garden of Croatia | |
| Location | Draškovec, City of Prelog
The property is situated in the Međimurje region, in Northwest of Croatia, in the Municipality Prelog and the Draškovec settlement, in close vicinity of the highway Zagreb-Varaždin-Budapest. The capital city of Croatia Zagreb (and its main airport) is only a 60 minute drive away. The location is in the car drive vicinity from the markets of Austria, Hungary, Italy, Slovenia, Czech Republic, Southern Germany, as well as the City of Zagreb and all northern Croatia and nearest eastern European countries, which form the most important European Spa markets. | |
| County | ||
| Description | The project involves construction of a holistic Wellness & Health Resort & Green Energy production in several interrelated or independent phases that can be combined according to the interest of investor(s). Besides the developing indoor and outdoor thermal water park, spa premises, specialized hotels etc., an advanced geothermal power plant of new generation based on own sustainable geothermal sources with combined production of electricity (18.6 MWe gross) and heat (75 MWth) will be built. Also, the project involves construction of specialized golden age lifestyle villas and apartments surrounded by golf course; drinking and mineral water bottling plant from own well and greenhouses production of fruit and vegetables.
The project is divided into 3 main phases and sub-phases: Phase 1: 1a - Construction of an Advanced Geothermal Power Plant (7.2 MWe, 15 MWth in 2018 + extension to up to 18.6 MWe, 75 MWth by end of 2019); 1b - Indoor and Outdoor Health and Water Park (6,000 m2 of pools’ water surfaces and 12,500 m2 land plots) with horticultural gardens, 2019 - 2020; 1c - Tropical Gardens; Greenhouse agriculture and fish breeding (tropical fruits and spices), 2020-2021. PHASE 2: 2a - Spa & MICE boutique 80 rooms 4* Hotel with Medical Polyclinic (primarily Dermatology, Cosmetology & Gynaecology); 2b - 240 units in Villas & Apartments village and 9-holes golf course (one option is development of serviced apartments for active seniors). PHASE 3: Drinking and Mineral water bottling plant “Aqua Hortus”. The whole Hortus Croatiae complex is envisioned as an organically structured park village in an exceptionally attractive horticultural environment with natural water and pools surfaces, resonating natural warmth, cosy atmosphere, hospitality, tradition and natural environment at a 4+* quality level with extremely economically and financially efficient energy and water production elements. There are two companies involved in the project: Aqua Aera Terra (AAT) Ltd. and the company AAT Geothermae Ltd. (AATG). AAT Ltd. is the owner of 500,000 m2 of urbanised land and the health tourism, spa, tropical garden, water bottling and real estate & golf project, while the other AATG Ltd. is the proprietor of 75,000 m2 of urbanised land, geothermal well and the ongoing sustainable advanced geothermal energy plant project. The companies have different owners but coordinate the development activities. | |
| Economic category | ||
Financial sources | ||
| Estimated project value | €170.500.000,00 | |
| Estimated value descriptive | • Phase 1a (Year 2015-2018) = 27.5 mil EUR (enhancement of the energy power plant in further phases: additional 52.5 mil EUR in 2018-2019);
• Phase 1b (2019-2020) = 24.5 mil EUR; • Phase 1c (2020-2021) = 14 mil EUR; • Phase 2a (2020-2021) = 12 mil EUR; • Phase 2b (2022-2023) = 37.5 mil EUR; • Phase 3 (2020-2022) = 7.5 mil EUR. | |
| EU funded | ||
| Financing descriptive | The project of the power plant AAT Geothermae was applied to EU Comission’s tender NER300 for rewards for innovative solutions in renewable energy and CCS. The project received a grant in the financial value of 14.7 mil EUR. AAT Geothermae is applying for additional funding for the development of its innovative technology in the EU program InnovFin EDP and EEEF. For the development of the Spa and Health tourism project “Hortus Croatiae”, the company AAT will apply for funding at ERDF and Interreg fund for Croatia. The documentation for both planned applications is ready.
All the technical and financial feasibility studies for the project development are prepared. The investment project of Energy Plant AAT Geothermae (Phase 1a) is ongoing, it has secured financing; renowned international investors joined it in 2017. The Goverment of the Republic of Croatia included the project on the List of Strategic Projects of the Republic of Croatia in 2016. For all phases the complete investment programs and business plans have been made, as well as the debt/loan financing conditions for their realization have been partially preliminary agreed with the local/international commercial and development banks. | |
Project involvement possibility | ||
| Looking for investor | ||
| Other info | The Developer is looking for a potential financial/strategic investor and partner to enter the project by acquisition of certain amount of the shares of the AAT company or/and AATG company; adding capital or offer a preferred equity facility or mezzanine financing facility (or other combination of capital and financing transaction if demanded by the policy of Investor/Financer). Investors can enter into each company separately or into both companies simultaneously.
The project is realised in phases and combination of equity and debt financing sources that the developers have conditions agreed upon partially with regional and international commercial and development banks. | |
Preparation of project documents | ||
| Documentation status | Full project documentation For details please contact investicije@hgk.hr | |
Project holder | ||
| Project holder | Aqua Aera Terra (AAT) Ltd. | |
| Contact | Aqua Aera Terra (AAT) Ltd.
Address: Draškovec, HR-40325 Draškovec, Zelena 1 Phone: +386 2 787 7455 (reception) Fax: +386 2 787 6120 e-mail: pv@aatg.energy | |
Other information | ||
| Estimated start of project implementation | Year 2013/2014.
The first adaptation and testing works on the existing geothermal well Draskovec-1 were finished in January/ February 2014, as well as the testing phase of the energy production plant in September 2014. | |
| Estimated duration of project in months | The project is being developed and implemented by individual stages as shown in the schedule of investments.
Some phases are planned to be realized parallel (what will depend on the decision of the co-investor and modality of the final closure of the financial structure). | |
| Type of project | Private | |
| For details please contact investicije@hgk.hr | ||
Linked files | ||
