Shiraz Hussain
London, ALD (UK)
Role(s):
Associate/Staff
Junared
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Startup
Location:
London
Industry:
Energy
Year Founded:
2008
Number Employees:
1-10 people
Description:
We are company that is entering the lucrative market of renewable energy , in the form of wind farm development. We are seeking funding for a turn key project that currently we have signed a lock out agreement for. The executive summary of the project is as follows :
The project is based in Greece, all figures are quoted in EUROS.
The deal is to buy a Greek SPV that holds permits and lease to build and operate a 24 MWh wind farm project in Greece. The SPV is part controlled by a German engineering company and the local Greek municipality, a 65/35 split. The agreement was the municipality would put the land into the SPV and the engineering company would carry out the relevant research top ensure the construction of a wind park, at the end it would be sold and the profits split accordingly. A Danish company have assisted in carrying out the relevant investigations to ensure a farm is sustainable, current wind speeds are averaging 7.8 M/S. This data is available for a significant period of time. A PPA has been drafted by the municipality government that specifies that the energy is to be sold to the local state supplier on a 10 year contract starting at approx 79 per hour inflation or CPI linked, essentially 3% compound hike per year. Along with this there is a Government grant ranging from 8 – 11m available to assist with the procurement and installation of the turbines.
Figures as they stand are 9m for the land lease, approx 27 years left and an option to extend is possible. 31m approx to supply and install relevant turbines that have a rated output of 24 MWh. We intend to take the project as turnkey with ultimate delivery of a functional park connected to the grid.
This is a fantastic opportunity to enter a very fast growing market that is set for explosive growth in the near future, as governments seek to meet their renewable energy targets.