Investment opportunity

  • High-yielding investment in energy sector, financing of further technical improvements, purchase of spare parts, and maintenance cycle for wind turbine farm in Poland.
  • 16,55% planned annual return.
  • Investment principal buyback is available at 5% penalty fee.

Project description

FLC POLAND SP ZOO is a Polish company that is engaged into several business projects in Eastern and Central Europe in industries like alternative energy, trade of agricultural products, logistics operations, etc. The company is operating since the year 2013.

In the years 2015-2016 FLC POLAND SP ZOO participated in construction of a farm of wind turbines in Poland, Krakow region.

 

The project with total budget of EUR 28 million (net, rounded) assumed purchase of 12 Enercon E-92/78m wind turbines (https://www.enercon.de/en/products/ep-2/e-92/) with combined power capacity of 28,200 kW as well as number of additional installations and services such as:

  • Transformers with switchgears.
  • Protection from lightning strikes.
  • Control and power devices.
  • ENERCON SCADA Remote - the primary system of telemonitoring.
  • Transportation, mobilization and operation of the crane.
  • Flat concrete foundation.
  • Installation.
  • Launch into operation.
  • 100 hours of testing.
  • General insurance before use.
  • Connecting cables with the transformers in turbine towers.
  • Two years warranty.
  • Set of technical drawings of foundations, technical instructions.

General data on E-92 wind turbine:

  • Manufacturer: Enercon (Germany)
  • Model: E92/2350
  • Rated power: 2,350 kW
  • Rotor diameter: 92 m
  • Wind class: IEC IIa (WZ III)
  • Offshore model: no
  • Swept area: 6,648 m²
  • Power density: 2.83 m²/kW
  • Number of blades: 3
  • Power control: Pitch
  • Launch into operation: 2012

The park of wind turbines was launched into operation in 2016, so now FLC POLAND SP ZOO is looking to attract financing with an aim of making additional technical improvements to the installation in order to raise its overall efficiency, purchasing spare parts for the turbines, and conducting necessary maintenance works for the next period of operation.

Market

With an average of 12.6 GW per year, volumes of new deployment of wind energy capacity look set to remain fairly strong through to 2020, according to WindEurope’s Central Scenario. We expect 2017 to mark a new record high in annual installations. We expect 50 GW to be installed in the 4 years of 2017-2020. We expect this would bring the EU to an accumulative installed capacity of 204 GW. We expect this 50 GW additional capacity to represent over half of all new renewable capacity in the EU over the 4-year period, well above solar PV, bioenergy and hydro power.

With over 200 GW of installed capacity, wind energy could meet 16.5% of Europe’s electricity needs by 2020, surpassing hydro power and becoming the largest source of renewable electricity. We expect Denmark to meet over half of its demand with wind energy and Germany almost 30%. Ireland, Portugal, Spain and the UK will follow with respectively 29, 27, 24 and 21%.

New installations will remain relatively strong until the end of 2020, but policy uncertainty and lack of ambition for the post-2020 climate and energy framework could have a significant negative impact on the sector. Only a handful of Member States have provided visibility and regulatory certainty. With only 5 countries among the EU28 announcing auctions plans, there is a lack of certainty on revenue stability for investors.

 

Market concentration will remain high, with Germany, the UK, France, Spain and the Netherlands installing most of the capacity. Germany alone will represent a third of all the installed capacity, with a total of 16.5 GW. The second largest market will be the UK, with two thirds of its new installations offshore. France will be third in the list with potential installations of up to 6.5 GW. The onshore market will remain stable with a slight decrease towards the end of the 4-year period, mainly due to lower planned activity in Germany. However, we expect Spain to experience radical growth after several years of inactivity; following the recent tenders, the industry is gearing up to install 4.1 GW of capacity.

The offshore market will grow at a higher pace than the onshore market. With average new installations of 3.1 GW/year, offshore wind will represent about one quarter of the total new installations (compared to a 15% share in the last 4-year period 2013-2016). The offshore market will concentrate mainly in the UK with 5.2 GW, representing 42% new grid-connected capacity. Another 4 countries will see offshore installations: Germany (3.5 GW), Belgium (1.5 GW), the Netherlands (1.4 GW) and Denmark (1.0 GW). In 2019, annual installations in offshore will reach to over 4 GW.

(Extracted from “Wind Energy in Europe: Outlook to 2020)”

Sample repayment schedule

Envestio participant’s investment - EUR 1 000.00
Payments:

  • 02.02.2019 - EUR 14.06
  • 02.03.2019 - EUR 12.70
  • 02.04.2019 - EUR 14.06
  • 02.05.2019 - EUR 13.60
  • 02.06.2019 - EUR 14.06
  • 02.07.2019 - EUR 13.60
  • 02.08.2019 - EUR 14.06
  • 02.09.2019 - EUR 14.06
  • 02.10.2019 - EUR 1013.60

Total expected return: EUR 1 123,80

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Informationen zum Projekt

Kredit IDEN018073
Projektstartdatum02.01.2019
KreditnehmerFLC POLAND SP ZOO, Reg. Nr. 5252561278, Poland
Finanzierungsziel€ 225,000
Zweck des DarlehensFinancing of further technical improvements, purchase of spare parts, and maintenance cycle for park of wind turbines
Darlehenszeit9 months
Zinsrate16,55% jährlich
Rückzahlung des DarlehensIn full at the end of the Loan Period
Kapitalrückkauf möglichYes, 5% penalty rate
Zahlung von ZinszahlungenMonthly, on a specific date
Typ der FinanzierungSecured debt
Garantie vom Eigentümer des ProjektsCommercial pledge in favor of Envestio Collateral Agent, Personal guarantee of the main beneficiary

 

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