EEI is presently working on several projects in south eastern Europe.  Two of those projects that are currently open for investment are described below.  There is also a pipeline of new opportunities that are in development now, and which will become open to investors in the next few months.

Energy companies, Funds, and other potential investors are invited to contact us for more details.

Committed Projects.

The following projects are now in detailed development with investor support, and are no longer available to new investors.

• Cogeneration project in Macedonia.

Projects Presently Open for Investment.

1.  Wind Power at Hadji Dimitar in north eastern Bulgaria.  

This is a project with a potential capacity of 39MWe in the best area for wind energy in Bulgaria.  It is now at an advanced stage of development and ready for investment. 

A summary is available here;  Eco New Energy - new investor summary

The project has been delayed waiting for the Bulgarian grid company to upgrade the local 110kV grid.  That work is now in hand, and it is planned that the project can be fully connected to the grid by the end of 2011.

3.  Biomass Pellet manufacturing business, Bulgaria. Pelleti ltd.

The other pellet business will use waste wood in northern Bulgaria for the manufacture of wood pellets.  Our Bulgarian partners have excellent contacts with the timber harvesting industry in the area and have contracts in place to buy the waste wood from forestry operations.

We also have contracts for the supply of waste paper materials and there will be a second smaller product line using the waste paper materials as feed-stock.  The paper pellet that are produced will be sold locally at a premium price as a very effective cat litter.

You can see a summary of this project here:   Pelleti - investor summary

New Projects;

Bulgaria

There are opportunities for investment is several types of renewable energy and energy efficiency initiatives.  Investment in Bulgaria has the advantage that the country has an established and modernised legal framework, a clear and open system of regulation, and a buoyant economy. 

• Solar power - photovoltaic electricity.  Attractive tariffs have been published for solar power and we are working on some feasibility studies. 
  
  We are in touch with several local project developers who need expert advice and financing to be able to complete the projects they have started.  We welcome discussions with investors, developers and equipment supply companies that are interested in participating in this dynamic and attractive market.
   
• Biomass fired power generation and cogeneration.  There is a lot of waste biomass material that is presently not used in Bulgaria and we plan to use this material for power generation.  The Bulgarian regulator has announced very attractive electricity tariffs for such projects and we are working with local partners to create such opportunities.  These projects will typically be small - up to 5MWe, in order to keep the licensing procedures simple.
   

Macedonia

• Our first cooperation in Macedonia is now compete and we are discussing other similar developments in that country. 
   

Bulgarian Renewable Energy Company (BREC)

• BREC has been set up in Bulgaria as a vehicle for low carbon energy project development.  The company is legally registered in Bulgaria and can be used as the development vehicle for Bulgarian development projects.