Croatia’s latest guarantees of origin (GO) auctions have established a fresh price reference for renewable electricity certificates, with transactions clearing between €1.55 and €2.06 per certificate. The results provide an updated benchmark for corporate buyers, electricity suppliers and other market participants seeking to substantiate renewable-energy consumption.
The auctions, held on 27 October through the CROPEX trading platform, comprised six parallel sessions covering certificates from wind, solar and biomass generation. A total of 266,252 guarantees of origin were sold, according to the reported results.
The largest transaction involved 203,752 guarantees of origin from Croatian wind generation in the third quarter of 2026. The certificates were sold by HROTE at €1.60 per GO, making domestic wind the dominant technology by volume in the latest auction round.
HROTE also sold 47,377 biomass guarantees of origin at €1.61 per certificate, placing the transaction close to the clearing price for Croatian wind certificates. The results indicate relatively limited price differentiation between these two renewable-energy sources in the latest auctions.
ENNA Next recorded the highest price of the sessions, selling 6,791 German wind GOs covering generation from June through September at €2.06 per certificate. The premium over Croatian wind certificates suggests that geographical origin and buyer preferences can influence the value of renewable attributes, even within a market where prices for different technologies remain relatively close.
The company also sold 6,063 solar guarantees of origin at €1.55 per certificate and 997 biomass certificates at €1.60. Separately, KOER sold 1,271 solar GOs covering September production at €1.56 per certificate.
The narrow price range for Croatian wind, solar and biomass certificates points to a market in which technology-related price differences remain modest. However, the higher clearing price for German wind certificates highlights the potential importance of certificate origin, generation period and buyer requirements when determining market value.
Guarantees of origin provide a mechanism for tracking and documenting the renewable attributes of electricity, allowing suppliers and corporate consumers to support claims about the source of their energy consumption. They are separate from the physical electricity itself, meaning that the certificate market can develop its own pricing dynamics alongside wholesale power markets.
For renewable generators and electricity suppliers, the latest Croatian auctions offer a practical indication of the prices buyers were willing to pay for different certificate categories. For corporate purchasers, the results provide a reference point for evaluating the cost of renewable-energy procurement and the role of guarantees of origin in sustainability strategies.
With 266,252 certificates sold in a single auction round, Croatia’s latest results provide a useful snapshot of demand for renewable-energy attributes, while the premium achieved by German wind certificates illustrates that origin and market preferences can still create meaningful differences in certificate valuation.
