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Geographies

Geographies


Bulgaria

OptiEnergy got off to an early start in this geography way back in pre-crisis 2007, being involved in the first utility-scale PV assets in the region. Among our many operating assets, our challenging 2MW motorway-side park near Ihtiman remains a showcase to this day.

Otherwise, the Bulgarian solar market has been characterized by regulatory uncertainty. However, in early 2011 the Bulgarian Solar Market seems about to rise up and become the next frontier with a convergence of:

• The new renewable Energy law in Bulgaria.
• Banks with renewed appetite willing to lend up to 80%.
• EPC and modules resources fleeing from Czech, Germany and Italy
• An easing of module prices

Bulgaria is a country with a generosity of solar irradiation, low market entry prices, a center-right government trying it’s best to be transparent and easy-to-do-business-with generous soft incentives (e.g. tax breaks, etc.) and a worst-case 10% flat profit tax.

We focus on the southern territory where EVN is the main offtaker. There – as well as developing our own projects from scratch, we screen 100s of projects every quarter with a view to short listing investibility.

Once shortlisted, we monitor early stage projects with proven developers and step in when they reach a middle-stage threshold (e.g. preliminary connection agreement).

We then seek to group these projects into ‘clusters’ or ‘platforms’ – groups of projects of average size 3MW – that are geographically proximate so that we can have all the economies of a 20MW but a derisked, high-velocity grid connection schedule.




Romania

We envisage that Romania’s solar PV sector can develop in coming months as well. So OptiEnergy has deployed in-locale resource teams to scout potential projects in the west of the country near our Cluj hub. Further East, near Bucharest, we already havea revenue-ready 4MW.


Romania is a geography with relatively low entry barriers and many important players are beginning to look into the country as well. Business developers of EPC players (Juwi, Kioto) as well as modules (Trina, Q-cells) and inverter manufacturers (Fronius, Sputnik) are reporting heightened acitivity in this country in 2010.
Last but not least, the Oprational Programs of the EU Development programs for Romania make eligible up to 70% of CAPEX` for refund or subsidy.