RP Global will build and operate the Rudine wind farm in the coastal town of Slano, some 32km northwest of Dubrovnik.
In addition to supplying power to thousands of homes and businesses, the 34.2MW wind facility will help combat climate change by reducing greenhouse gas emissions by more than 24t of CO2-equivalent each year.
A loan of €18.9m will be provided by IFC to the local project company, which is majority owned by RP Global.
The farm, which has an estimated cost at €53m, is expected to strengthen Croatia’s supply of wind-generated power, reduce the dependence on imports, and help the nation meet its European Union energy targets.
IFC Western Balkans regional manager Thomas Lubeck said: "The Rudine wind farm will make a significant contribution to Croatia’s renewable energy production and improve electricity supply in the area around Dubrovnik, one of the key tourist regions in the country.
"IFC’s support for renewable energy is an important part of our work to address climate change and improve access to infrastructure."
