Industry Archives: Alternative Energy

Tesla Motors

OLMA Capital Tesla Case Study

OLMA has released a thorough and refreshing work about Tesla Motors Inc. (NASDAQ: TSLA) that provides the data and insight to understand the big picture behind this disruptive California luxury premium electric car manufacturer.
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Algae to Fuel Project in the United States

This Company is developing a shovel ready Algae-to-Fuel operation that will have four streams of income:
1. The fuel from algae.
2. A tilapia fish farm.
3. A shrimp farm.
4. Algae to be sold as fertilizer and as a pharmaceutical base.
The Company is seeking about $12m for Phase 1 or $46m for the entire project.
The Company has received a $5m grant from the DoE, and are working with the University of Georgia and Puerto Rico. The principals have invested about $1m so far in the Project. The project land and equipment is valued at another $8m.
The Company is represented by a financial sourcing company.

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Two Romanian Photovoltaic Projects Totaling 15 MW

This is an opportunity to acquire a majority stake in two RTB photovoltaic projects based in Romania, totaling 15 MW. The companies have an estimated EBITDA of 2.3m Euros and an estimated EBITDA margin of 88% for 2015.

General information about the project:
• Project location: Vrancea County, Carligele village, 5 kilometers from Focsani. The 15 MW project is split in two parks of 8 MW and 7 MW of installed capacity respectively. The projects are located next to each other, have similar permits and permissions, similar connection conditions and have been developed simultaneously.
• Both parks are connected into the same power station, very close to the photovoltaic structure. The 20 kV Focsani West power station is newly modernized (2013) and has 2 connection points, one for each park. The connection costs are very low – less than 90.000 € / park.
• The energy will be delivered directly into Transelectrica new substation (put in function last year) and will be consumed directly by industrial consumers and households from the city of Focsani. There is NO RISK of delivery interruptions.
• NO network reinforcement are requested.
• Land: 31 hectares – concession contracts for 25 years, with the local authorities – Carligele Village local council, the owner of the land.
• GIS coordinates: 45.68: Northern Latitude, 27.13 Eastern Longitude.

Paul Mihus
[email protected]
+40 72 315 4797

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Ready-to-build Wind Energy Project in Romania with EU Subsidy

Project Overview:
• The Project EOS is a ready-to-build wind park in the East of Romania with a capacity of 64 MW (32 wind towers). All required permits are secured.
• The planned wind park will be equipped with Vestas V90 (change to V100 possible) turbines with an output of 163,575 MWh at 2,556 full load hours / year under the P50 scenario.
• Binding offers with suppliers for equipment and full-service contracts have been negotiated. Land for the wind park has been acquired and is owned by developer.
• The wind park could be operational by end 2014 and benefit from the favorable tariff and Green Certificate system which allows for revenues of approx. EUR 145.57 / MWh.
• Project EOS qualifies for significant subsidies in a total amount of EUR 18mn, which have already been granted.
• Romania is attracting significant investments in wind farms with a confirmed project pipeline of 4,316 MW until 2014, among them CEZ, Iberdrola, GDF Suez and EDP.

Proposed Transaction:
100% sale of shares to the investor for EUR6.4mn (in return for Permits+Land+Technical Analysis+Grid Connection). The investor will need to invest an additional EUR83mn to buy/erect the wind turbines, less EUR18mn EU subsidy.

Investment Considerations:

Romania offers very favorable conditions for wind park investments
• Significant increase in wind power capacities required to meet EU targets and National Action Plan
• Attractive environmental conditions in terms of wind speed
• High revenues secured by legal minimum feed-in tariff and Green Certificates trading

Project EOS is at ready-to-build status and may be operational in 2014
• All required permits secured
• Land acquired

Project EOS qualifies for significant subsidies
• National Romanian subsidy EU-funds of EUR 18mn granted

Total Cash Flows of approx. EUR 330mn
• Project generates a total free cash flow of EUR 330mn over its 20-years lifetime.
• Total estimated remaining investment costs of EUR 82.9mn not including the subsidy.
• High Free Cash Flows of more EUR 15.0mn p.a. throughout project lifetime.
• Limited investment cost risks: binding offers for wind park equipment; full service contracts ready to sign.

Years Revenue EUR Free Cash Flow EUR
2014 4mn 3.1mn
2015 23.1mn 18.3mn
2016 25.3mn 20.0mn
2017 25.9mn 20.4mn

For further information, contact:
Phoenicia Capital Advisory
Paul Kazarian
[email protected]

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Operating Solar Energy Park for Sale in Romania

This fully-operational and licensed/accredited solar energy park fin Romania has a capacity of 4.89MWp. It is offered for sale at EUR 7.2 million:
– Annual energy production: 6,356 MWh;
– Tariff Rate: EUR 36/ MWh;
– Six Green Certificates/1MWh (approx 240 euro/1MWh);
– Rental term for land: 26 years with purchase option at Eur 68,000 for nine hectares;
– Rental fee for land: EUR 2,700 p.a. with inflation adjustment;
– Insurance: EUR 5 per kWp p.a. (estimate);
– Repair: EUR 5 per kWp p.a. (estimate);
– Maintenance: EUR 14.7 per kWp p.a.;
– Security & administration: EUR 11 per kWp p.a.;
– The park has been operational for nine months as of the date of this report;
– An investment in this solar park is expected to yield an IRR of 16%.

Projected financial results:
Years Revenues Net Cash Flow
2014 EUR1mn EUR730K
2015 EUR1mn EUR730K
2016 EUR1mn EUR730K
2017 EUR1.7mn EUR1.3mn
2018 EUR1.7mn EUR1.3mn

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Blackstone’s solar unit gets $540 mln in financing

LOS ANGELES, Oct 17 (Reuters) – Vivint Solar has raised half a billion dollars to finance residential solar projects around the U.S.. The Provo, Utah-based company is the second largest residential solar installer in the U.S. Continue Reading →

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Impax fund buys two Finnish wind power projects

Reuters LONDON Sep 6
Impax Asset Management said one of its energy funds had agreed to buy two wind power projects in Finland, its first investment in a country where the market is just starting to grow. Continue Reading →

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Worldwide to Acquire Greener Wind Solutions 21 Aug 2013
Worldwide Internet, Inc. (OTC: WNTR) announced today that it will be acquiring an interest in Greener Wind Solutions, Inc. from Ludvik Holdings Continue Reading →

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LUKoil Affiliate to Buy Bulgarian Wind Farms

The Moscow Times
A joint venture of the Italian energy company ERG and LUKoil, Lukerg Renew, has received approval to buy four wind energy companies in northeastern Bulgaria Continue Reading →

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Marubeni to Buy Mainstream Renewable Stake, GDF Power Assets

Marubeni Corp. will pay as much as 100 million euros ($133 million) for a holding in Ireland’s Mainstream Renewable Power Ltd. and will take a 50 percent stake in a subsidiary of GDF Suez SA. Continue Reading →

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