Presentation pv park_dobrich_eng_october_2011

INVESTMENT OVERVIEWFOR SALE OF PHOTOVOLTAIC PROJECT IN THETOWN OF DOBRICH, DOBRICH MUNICIPALITY,DOBRICH REGION, WITH APPROXIMATE CAPACITY 2.5 MWp Sofia • Vienna • Brussels • Moscow • Dubai October 2011

Contents:Executive summary ………………………..……………………………3Location and main parameters ................................................................ 4Licensing overview .................................................................................. .. 5Productivity estimate of Dobrich project.............................................. ...6Contacts ....................................................................................................... 7Appendix I: Land layouts and maps of the terrain ................................ 8 2

1. EXECUTIVE SUMMARY  The present overview is prepared to bring forward an investment opportunity related to the sale one partially permitted project for photovoltaic (PV) power plant in Dobrich town, Dobrich municipality, Dobrich region, Bulgaria with estimated total installed capacity of 2.5 MWp for € 90,000 excl. VAT.  The plot of land forming the Project site is situated in Dobrich town, in the North-East part of the country.  The plot of land is owned by one beneficial owner (company) who is willing to sell the entire, partially permitted Project capacity.  Some of the most important development milestones such as Urban Planning (“PUP”), Change of land status, Ecological Assessment have been passed.  The project will be developed according to new Bulgarian RES law (in force from 3rd May 2011), and will take advantage of fixed feed-in-tariff for 20 years.  The local developer will sell the entire Project, subject to a confirmed interest by a creditworthy Investor. The eventual transaction will include the ownership of the land plot and all permits available till the moment.  The presentation below outlines the main technical, economic and investment considerations concerning Dobrich Project. A more detailed solar energy audit report, financial model or information memorandum can be offered upon request by the Investor. Inea Consulting Ltd as a Project advisor to the current Owners will readily submit any such information upon satisfactory Expression of Interest. 3

2. LOCATION AND MAIN PARAMETERS OF THE PROJECT  GPS Coordinates: 43°3549.63" North, 27°5135.82" East  Sea level: 225 m. above.  Orientation : flat terrain  Size of plot – 50,000 sq.m. (5 ha)  No obstructions to light, no heavy winds, snow or seismic activity (data available upon request). No emissions of SOx or NOx in the region, nor dust.  Geological and hydro – geological state, showing adequate condition of the soil to sustain such structures.  Questions related to transport and construction of the project: There is direct access through asphalt and agricultural roads to the terrain, which in turn is free of buildings.  Availability of medium voltage grids 20 KV near the designed terrain at 2 km distance  Grid connection will require just building of a transformer station and a short distance cable power line at the expense of the connection fee.  Terms and conditions for the grid connection have been presented by E.ON.  Modules radiation fixed under 30° decline from the horizontal surface of the terrain – 1 540 kWh/m2. 4

3. LICENSING OVERVIEWA) Steps in project development and in Dobrich project particularly1. Approval of Particular Zoning Plan (PUP)Announcing the approved PUP to the neighbors of the plot Coordination with local Health and Sanitary authority New revision by the expert architectural council in the Municipality Approval by the City Council Mayor’s order for validating the PUP Quarantine period of 2 weeks before PUP enters into effect Registration in the cadastre plan and issuance of new Plans -2. Change of Land usagePackage of documents (PUP, new plans, expert opinions)  3. Project PhaseIssuance of a design visa -Preliminary contract with E.ON Bulgaria -Conceptual design and Final Technical Project (el part + civil works) -Approval of the final Project by the Municipality -Building permit -B) Steps in Grid Connection and Procedure to the Distribution Company (E.ON)1 Application to the Distribution Company for connection to the grid 2 Response to the application, to serve the Design Visa 3 Request for terms and conditions for connection to the grid 4 Receipt of a Connection opinion with the terms and conditions -5 Request for preparation of a Preliminary Contract for Connection -6 Signing the Preliminary Contract for Grid Connection -7 Filing a Request for signing a Grid Connection Agreement -8 Signing a Grid Connection Agreement -9 After final working, coordinating with the Distribution Company -10 Filing a Request for signing a Power Purchase Agreement -11 Signing a Power Purchase Agreement -Note: With “” are marked finished phases for the Dobrich project, with „-“ notfinished. 5

4. PRODUCTIVITY ESTIMATE OF DOBRICH PROJECTLocation: 43°3549.63" North, 27°5135.82" East, Elevation: 225 m a.s.l.,Solar radiation database used: PVGIS-classicNominal power of the PV system: 2500.0 kW (crystalline silicon)Estimated losses due to temperature: 10.2% (using local ambient temperature)Estimated loss due to angular reflectance effects: 3.0%Other losses (cables, inverter etc.): 14.0%; Combined PV system losses: 25.1% Fixed system: inclination=30°, orientation=0 Month Ed Em Hd Hm Jan 4660.00 145000 2.25 69.7 Feb 5710.00 160000 2.83 79.3 Mar 7430.00 230000 3.82 118 Apr 8920.00 268000 4.78 143 May 10400.00 323000 5.73 177 Jun 10300.00 309000 5.78 173 Jul 10700.00 332000 6.03 187 Aug 10600.00 328000 5.94 184 Sep 9220.00 276000 5.03 151 Oct 7590.00 235000 4.00 124 Nov 4910.00 147000 2.46 73.8 Dec 3920.00 121000 1.91 59.1 Yearly average 7880 240000 4.22 128 Total for year 2880000 1540Ed: Average daily electricity production from the given system (kWh)Em: Average monthly electricity production from the given system (kWh)Hd: Average daily sum of global irradiation per square meter received by the modulesof the given system (kWh/m2)Hm: Average sum of global irradiation per square meter received by the modules ofthe given system (kWh/m2)PVGIS © European Communities, 2001-2010 6

5. CONTACTSAttn: Mr. Angel PetrovInea Consulting Ltd9, Maria Louisa Blvd., 3rd floor9000 Varna, BulgariaTel: +359 52 91 60 56Fax: +359 52 302 508Mob:+359 896 833 044Mob:+359 887 342 475e-mail: a.petrov@ineaconsulting.eu 7

Appendix I: Land layouts and maps of the terrain 8

Presentation pv park_dobrich_eng_october_2011

by primevarna on Oct 26, 2011

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