1. Wind Power in Bulgaria and the Region: Key Challenges
VERBUND Renewables
Wind Power in Bulgaria and the Region: Key Challenges
Dieter Meyer, Sofia,

2. VERBUND at a glance Austria’s leading electricity company
Covers some 40% of Austria’s electricity requirements – approx. 90% of which is derived from renewable hydropower
Leading hydropower-producer in Europe
196 TWh trade volume, active in 18 European countries
24,2 TWh generation from renewables – enough to supply 7 mio. households
International generation capacity in: Albania, Bulgaria, France, Germany, Italy, Romania, Spain and Turkey
Some 3,000 employees
Key Financials
€ mio.
2011
Sales revenue
3.865,4
EBIT
1.001,6
Consolidated net profit
352,6
Operating cashflow
829,9
18 November 2018

3. Portfolio VERBUND Renewables
Status:
Wind PV
Total
In operation MW
324 26
350
Under construction MW
318 -
Production 2011 GWh
681 34
715
Wind
Solar
construction
operation
Dağpazarı 39 MW
Bares 142 MW

4. Non-financial aspects
Success factors for project development in Eastern Europe
Support mechanism
Non-financial aspects
Grid access / dispatching
Feed-in tariff
Certificate system
Tender
Legal certainty
Transparency
Low risk of unpredictable changes
Predictable duration of approval processes
Grid access
Dispatching / Balancing energy

5. Source: BWEA; Kommunalkredit, pwc, Invesetieren in Windenergie 2012
Wind Power in Bulgaria
Support system
New legal basis since May 2011
Fixed feed-in tariffs only for a limited number of projects
Methodology for allocation of grid access is unclear
Shortening of deadlines for approval process increases pressure for project developers
Feed-in tariff is fixed at construction (uncertainty for investors) – duration 12 yrs)
Tariff depending on installed capacity and load factor (9,64 ct/kWh – 8,78 ct/kWh)
National Renewables Action Plan / Target
National Renewables Action Plan only foresees 1256 MW Wind until 2020
Grid access limited at 1800 MW
Wind potential very good
Installed capacity end of 2011: 530 – 600 MW (BWEA estimate)
MW filed in old system
EWEA: 3000 – 3500 MW could be realised until 2020
Main Issues
Approval process
Grid access
Changes of regulatory environment
Currency
Lew (BGN)
Area
km²
Population (Mio)
7,46
BIP in EUR bn.
40,9
BIP / capita
5.485
BIP growth real in %
3,0%
Inflation in %
2,9%
Public indebtedness % BIP
20,5%
Source. Prognosis 2012, IMF 09/2011
Source: BWEA; Kommunalkredit, pwc, Invesetieren in Windenergie 2012

6. VRP in Bulgaria

7. Thank you for your attention!
Dieter Meyer
VERBUND Renewable Power
Schottengasse 4
1010 Wien