PROJECT OWNER ENERGY INVEST TOGETHER WITH PROJECT DEVELOPER LONG MAN HOLDING OFFER A HIGH-GRADE INVESTMENT OPPORTUNITY IN THE BULGARIAN WIND POWER SECTOR
Sale
WIND FARM DABRAVA 4 MW
- Bulgaria (Village of Dabrava, Municipality of Balchik).
- Close proximity to Port of Varna (largest in Bulgaria) and Port of Constanța (Romania; largest on Black Sea).
- Excellent wind potential with average annual wind speed of 7.1 m/s at height of 100 m.
KEY FACTS
- Permitted for 4 MW wind turbine generators (WTGs), hub height up to 105m; rotor diameter up to 90m.
- All plots (for WTGs) are property of the Project Owner.
Statute
- Spatial planning, environmental compliance, land conversion, technical designs – all done/approved.
- Construction Permit, external and internal cable lines, switchgear- received and valid until May 2030.
- Grid connection procedure pending on final selection of suitable WTGs.
- Open-market-sales regime of operations only possible. No government subsidies / feed-in-tariffs available.
BUSINESS CASE
- The financial model is developed on the basis of 2 WTG Vestss V80, 2MW, hub height 100m and rotor diameter 80m, fully refurbished WTGs for cost-efficiency purposes , with an expected annual electricity production of 9 980 MWh at P84.
- Other configurations of WTGs are also possible if they fit into the already approved construction parameters.
KEY FORECAST FINANCIAL KPIs OF THE MODEL:
| Indicator | Value |
|---|---|
| CapEx (incl. acquisition of the Project) | € 2.4 Million |
| Net Revenue (annual average for 15yr horizon) | € 505 000 |
| EBITDA (annual average for 15yr horizon) | € 398 000 |
| Internal Rate of Return (IRR) – unlevered | ≈ 13.06% |
| Payback Period (years) | ≈ 7.26 |
opportunity
- The Project Owner (Energy Invest EAD) is a 100%-owned subsidiary of a private equity investment fund, which is looking to sell all of its shares due to specific investment mandate constraints.
- The Project Developer (Long Man Holding AD) is a Bulgarian integrated wind power services supplier, which can deliver a turnkey solution for the investable business case (as described above) or full-scope assistance for any other tailor-made solution as per the requirements of the prospective final investor.
