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TEN KEY HIGHLIGHTS IN FORTHCOMING NEW RENEWABLE ENERGY SOURCES LAW IN

BULGARIA

Sofia • Vienna • Brussels • Moscow • Dubai

30th November 2010 Sofia, Bulgaria


TABLE OF CONTENTS

About Inea Consulting Ltd................................................................3 Ten Key Highlights in forthcoming Bulgarian RES law .................4 Contacts.......................................................................................... ....6 Important notice ............................................................................ ....7

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About Inea Consulting Ltd. Inea Consulting Ltd. is a well established Renewable Energy Advisory firm based in Varna, Bulgaria. The Company's mission is to render prime investment and engineering advisory services to regionally and internationally operating Clients in the fields of clean tech investments, mergers and acquisitions, business development and project finance in the emerging markets of Balkan countries and Eastern Europe. Inea Consulting Ltd. is a local key point of the leading Austrian consulting group EMERGY for Bulgaria, Romania and Serbia. Over the years of operation, Inea Consulting Ltd. has become a reputable Investment Advisory firm in Bulgaria, with a broad contact network and hands-on experience as well as an inside knowledge of local markets, business, financial, cultural and political environments. We have arranged numerous capital transactions and business deals for the foreign investors like Viking Renewable S.L., CEZ A.S., Sharp Solar Eastern Europe, East European Energy Systems Plc., Dobrotich Wind PLC, BB Solar Gmbh., Colonerus Sprl, SVM Solarvision Gmbh, Wustenroth Immobilien AG etc. Headquartered in Bulgaria, Inea Consulting Ltd. has affiliated partners in Austria, Belgium, Russia and Dubai. This network structure allows us to effectively combine local expertise and presence with international experience and approaches. One of our core competences are development and management of projects in wind, hydro, photovoltaic and bio power generation. We assist foreign and domestic investors in feasibility studies&land acquisitions for development of wind, solar and bio power plants, changing of statutes of land, obtaining of all required documents for power generation from renewable energy sources, project concepts and design, appointment of surveyors, engineering and building contractors and sub-constructors for the construction of wind and solar farms, biomass CHP plants and hydro power plants. Inea Consulting Ltd. is a firm, which aspires to be for you more than just a consulting firm. We wish to be your valued and important advisor in every-day professional choices, concerns and chances. Due to many years of experience, we are able to adjust ourselves to changing market conditions. At our company there is only one thing which never changes – our principles.

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Ten Key Highlights in forthcoming Bulgarian RES law

Dear Readers,

In order to put more clearness for all interested parties in renewable business in Bulgaria, we tried to summarize in 10 points the key highlights in the last published version (29th October, 2010) of the new forthcoming for vote Bulgarian RES law. We hope to raise fruitful discussion with this publication and welcome your comments at our e-mail address.

1. State Energy and Water Regulatory Commission (SEWRC) is announcing annually until 30-th of June the maximal electricity power capacity that will be able to be joined to the providing and redistributing network of the NEC and the three utility companies (CEZ, E.ON and EVN). It will be done by zones and by types of renewable energy sources (RES). Maximum electricity distributions would be clarified when NEK and the utility companies present SEWRC their capabilities of developing the network. 2. SEWRC continues as described in Bulgarian Energy Act to determine preferential feedin-tariffs for the electricity produced from renewable energy sources (RES). 3. Projects that are to be realized have to be examined by SEWRC's commissions. Commission members will be assigned by the regulator's chairman and there will be representatives of NEK and the other three utility companies. When filling the documentation a tax of BGN 10, 000 will be due as a guarantee for participation. 4. The current legislation foresees assuagement of the procedure for smaller projects, i.e. projects up to 30kW installed on roofs in urban areas, as well as for projects with collective capability of up to 1 MW, built by small and middle-sized enterprises on roofs and facades and on properties in industrialized areas. These projects will not compete with other such projects at the SEWRC, and there are planned reliefs for them in Spatial Planning Act. 5. The fee due for connecting to the network will be EUR 25, 000 per MW of installed capacity and is payable by the investors. For smaller RES the fee will be calculated individually on the basis of methodology adopted by SEWRC and will include the connection fee. 6. The price for electricity coming from RES will not be changed for the period of preferential buying. It will be fixed for a period of 25 years for solar power plants and geothermal pants and 15 years for wind power plants and hydro-power plants with capacity up to 10 MW. The price is calculated by SEWRC according to the Bulgarian Energy Act.

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7. The producers of RES with capacity above 30 kW will send real-time data to the network's operator for the produced electricity and the quantities that will be produced in the next 24 hours. 8. There will be established Agency for Sustainable Energy Development. It will substitute the current Agency for Energy Efficiency and will be responsible for the execution of the National Renewable Energy Action Plan. It will be also responsible for certificates of origin and will create database for RES projects. 9. Regional governors of all Bulgarian 28 regions will assure implementation on the territory of their regions of government policy for encouragement about production and consumption of electricity, heat energy and cooling energy from renewable energy sources. Production and consumption of gas from RES and biofuels in the transport will be also encouraged. 10. Mayors of all Bulgarian municipalities should develop and enter for vote at municipal councils, long term and short term programs to encourage use of energy from RES and biofules in accordance with National Renewable Energy Action Plan. Municipal councils vote these programs.

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Contact Us

Inea Consulting Ltd. 9, Maria Louisa Blvd, fl. 3 9000 Varna, BULGARIA Tel: ++359 52 91 60 56 Fax: ++359 52 302 508 Mob: ++359 887 342 475 Mob: ++359 896 833 044 E-mail: office@ineaconsulting.eu Web: www.ineaconsulting.eu

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Important notice The information presented hereby is correct to the best of our knowledge and belief at the time of going to press. It is, however, based on publicly available sources. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers and investors are encouraged to consult their professional advisors prior to acting on any of the material contained in this document.

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Ten Key Highlights in New Bulgarian RES law  

Summary of Inea Consulting about major points in forthcomig for vote Bulgarian renewable energy sources law.

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