Star Energy announced this morning it had acquired a further 20% of the geothermal company, A14 Energy Limited.

The deal brings Star Energy’s total share of the company to 71%.

A14 owns three geothermal exploration licences, through its subsidiary IGeoPen, in the Pannonian basin in Croatia. The region already has Croatia’s first geothermal power plant. The 17.5MW plant at Velika Ciglena is the largest of its kind in the European Union.

In August 2024, Star Energy acquired 51% of A14 shares from the former parent company Peninsula International PTE Ltd.

Ross Glover, Star Energy’s chief executive, said today:

“Our increased stake provides us with greater flexibility in our plans to farm down an interest in the licences and to accelerate the development of our Croatian assets.

“The additional interest does not expose us to material additional costs in the short to medium term due to the existing carry arrangements. Peninsula will continue to provide the partnership with in-country expertise.”

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