carbo 2016

C A R B O P O L A N D O V E R V I E W28

No. COUNTRY ASSET NAME FUEL TYPE OWNER / PARENT COMPANY EQUIPMENT CAPACITY INSTALLED /

PIPELINE* DESCRIPTIONCAPEX /

ESTIMATED CAPEX ** [EUR]

BEST CONTACT

32 PL Nowogard WIND ONSHORE Gmina Nowogard / 1 WTG Vestas V29-225 0.26 MW Loan by Wojewódzki Fundusz (...) 121,426 confidential

33 LV Pope WIND ONSHORE Winenergy / Wind One (Indrek 9 Siemens SWT-2.3-101 20.7 MW Winergy claims the bank is trying (...) confidential confidential

34 PL Zagórze WIND ONSHORE Tauron Ekoenergia Sp. z o.o. / 15 WTG Vestas V80 2MW 30 MW confidential (...) 30,000,000 confidential

35 HR ZD2 WIND ONSHORE EKO d.o.o. / Porzana d.o.o. 8 WTG Siemens SWT-2.3-93 18 MW Societe Generale-Splitska banka (...) 30,500,000 confidential

36 RO Corabia SOLAR PV Transeastern Power 28,602 polycrystalline REC modules 245 Wp, 14 7 MW confidential (...) 21,000,000 confidential

37 PL Gdańsk SOLAR PV Elektrownia CCGT Gdańsk Sp. z o. 6292 QCELL-s (260 Wp), area 25,000 sq meters, 1.64 MW confidential (...) 2,317,073 confidential

38 CZ Mimoň SOLAR PV ČEZ Group Polycrystalline panels fixed to bearing piles fixed 17.5 MW confidential (...) 49,000,000** confidential

39 RO Ucea de Sus SOLAR PV Swiss H1 Ventures Holding / 332,000 Hareon thin-film modules, area 200 ha 82 MW The majority stake holder is the (...) 100,000,000 confidential

40 HU Visonta SOLAR PV Matrai Eromu / RWE-EnBW (74%) 72,480 panels, area 30 ha 16 MW confidential (...) 20,900,000 confidential

41 SI Vrhovo (Hydropower SOLAR PV Savske elektrarne Ljubljana d.o.o. 360 PV modules on the roof of the hydro plant 0.08 MW confidential (...) 409,000 confidential

42 CZ Dukovany NUCLEAR ČEZ, a. s. VVER 440 – Model V 213 2040 MW confidential (...) 924,217,920** confidential

43 HU Paks Powerplant NUCLEAR MVM Group / Paksi Atomerőmű VVER-440/V213 2,000 MW Construction of two new units (...) confidential confidential

44 EE AREJ I, II NATURAL GAS Elering Dual fuel engine, natural gas/fuell oil 250 MW Elering's emergency reserve (...) 135,000,000 confidential

45 SI Brestanica NATURAL GAS Termoelektrarna Brestanica d.o.o. AEG Kanis - PG 5341, Alstom - GT11N2 323 MW Funded by European Investment (...) 66,000,000 confidential

46 EE Iru (Iru elektrijaama NATURAL GAS Iru Elektrijaam AS / Eesti Energia CHP, f1: Natural gas (units 1&2), municipal solid 207 MW Unit 1 was commissioned in 1978, (...) confidential confidential

47 CZ Hodonin LIGNITE ČEZ Group 2 CFB boilers 2 TG sets, fuel: brown coal and lignite, 105 MW confidential (...) confidential confidential

48 SI Ljubljana LIGNITE Energetika Ljubljana d.o.o. / Javni CHP, f1: natural gas, f2: fuel oil 124 MW confidential (...) confidential confidential

49 SK Cierny (Čierny Váh HPP) HYDROPOWER Slovenské elektrárne a.s. / Enel pumped storage plant, 6x Francis + 1x Kaplan 735 MW The plant was commissioned (...) confidential confidential

50 SI Krško HYDROPOWER HESS, d.o.o. / HSE d.o.o. and GEN 3 Kaplan turbines x 500 m3 water.sec 39 MW confidential (...) 165,000,000 confidential

51 BG Tsankov Kamak (Цанков HYDROPOWER Natsionalna Elektricheska 2 Francis turbines of 40 MW 80 MW VA TECH Finance provided the (...) 500,000,000 confidential

52 PL Żydowo HYDROPOWER Energa wytwarzanie S.A. 3 Francis turbines 150 MW confidential (...) 695,121,951** confidential

53 CZ Ostrava - Kunčice HARD COAL ArcelorMittal Ostrava a.s. Under modernisation. In mid 2016 the new a 254 MW confidential (...) confidential confidential

54 LV Jelgava Power Station BIOMASS Fortum CHP 23 MW confidential (...) 27,000,000 confidential

55 LT Klaipėda BIOMASS Fortum Heat Lietuva and waste-to-energy: municipal solid waste, non- 11 MW Nordic Investment Bank provided (...) 140,000,000 confidential

56 EE Pogi BIOMASS Pogi OÜ / Eesti Energia CHP, wood chips 2 MW 40% funded by the Environmental (...) confidential confidential

57 HR Viridas (Viridas Biomass) BIOMASS Uni Viridas d.o.o. / Unit Fueled by solid biomass - forestry and agriculture 9.7 MW confidential (...) 50,000,000 confidential

58 RO Ardud BIOGAS First Biogaz SRL (a memer of CHP; Biogest PowerRing technology; fueled by 1.5 MW Funding provided by Banca (...) 5,300,000 confidential

59 PL Koczała BIOGAS Poldanor SA Two-chamber initial tank 4,000 m3, tank for 2 MW confidential (...) 2,439,024 confidential

60 HR Popovac BIOGAS Energija Gradec d.o.o./ confidential 1.8 MW confidential (...) 6,660,000** confidential

* By pipeline we mean forthcoming power assets or additional capacity which is planned or already under construction.** CAPEX was estimated based on CARBO data.

The database sample is a simplified version of chosen records from the master database. The content in some of the columns is intentinally only partially displayed. The scope of master CARBO database includes the following attributes: Project Name, Fuel Type, Owner, Parent Company, DNO, Equipment Specification, Capacity, Voivodeship, District, Municipality, Address, GPS Coordinates, Equity Funding, Bank Financing, Institutional Support, CAPEX, OPEX, Annual Power Production, Carbon CO2 Output Over Lifecycle, Start Date, End Date, Stage of Project Development, Risk Ratio, Description, Company Contact and Best Contact.

CARBO DATABASE SAMPLE

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Contact u

s at:

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C A R B O3

M E E T O U R T E A M

MEET OUR TEAM

Dear Colleague,

As a power market player, CARBO aims to keep you informed.

Ask yourself: what will be the price obtained in Poland's new feed-in-tariff obtained at auction? Will the price be PLN 350, PLN 290 or PLN 245? Many factors are at play, but one thing is certain. If investors don't obtain the right price for their project, much renewable energy capacity will never be built.

CARBO is a primary power database and we are send-ing you a preview of our first deliverable, which we will issue in Q1 2016. Why should you subscribe to CARBO? If you're an investor, you can use CARBO to build or balance your portfolio. If you're a developer, you can use CARBO to predict which projects will compete in the auction. And if you're a supplier, you can use CARBO to find buyers for your products and services.

What's missing from the market is actionable commer-cial intelligence. Cleantech has been on the market since 2010 providing data, sales and marketing. We invite you to contact us at the information given on the back cover and meet the members of our team who are here to help you navigate CEE's power markets.

Subscribe today to have your business decisions powered by CARBO.

Kind Regards, Parker Snyder

Parker SnyderCommercial Director

Wojciech KośćEditor in Chief

Barbara MarciniakProject Manager

Piotr WdowińskiHead Analyst

Gabor Chodkowski-GyuricsAnalyst

Ozan SaglikAnalyst

Łukasz MazurekArt Director

Robert WalczyńskiDTP

Natalia SzydlakOffice Manager

EXAMPLE

C A R B O5

S C O P E O F C A R B O

SCOPE OF CARBO

UNITED KINGDOM

IRELAND

FRCH

DEBE

NL

LU

AT

IT

BiH SRB

MNE

AL

MK

KOSANDORA

SPAINPORTUGAL

MOROCCO

ALGERIA

TUNISIA

MT

GR TR

GEORGIA

AZERBAIJANARMENIA

UA

BY

FI

SE

NO

MD

LIBYA

EGYPT

JORDAN

ISRAEL

SYRIA

LEBANON

CYPRUS

IRAQ

RU

RU

DK

LI

SLOVENIA

CROATIA

BULGARIA

SLOVAKIA

HUNGARY

POLAND

LITHUANIA

LATVIA

ESTONIA

ROMANIA

CZECH REPUBLIC

WIND

BIOMASS

NATURAL GAS

HYDRO

COALSOLAR PV

NUCLEARGEOTHERMAL

BIOGAS

OIL SHALE

EXAMPLE

www.cleantechpoland.com/carbo

NUCLEAR PLANT REHAB

Bulgaria Decommissioning two nuclear units in project funded by EBRD

in 2016, apply by tender

GAS-FIRED PLANT

Croatia Tender in 2016 to construct a new combined cycle CHP plant up to 150 MW to replace EL-TO Zagreb CHPP

NUCLEAR PLANT REHAB

Czech Republic

CEZ Group plans decommissioning of [4] VVER 440 - V 213 reactors and replacement by [2] new units

BIOMASS CHP

Lithuania Danpower Baltic UAB is building a 5 MW plant fuelled by forest

residues to be launched in 2016

ONSHORE WIND TURBINES

PolandPGE calls for tender for supply, assembly, commissioning and maintenance of wind turbines

totalling 90 MW

BIOMASS PLANT

Poland TergoPower prepares for construction of a 50 MW biomass-fired plant.

WIND ONSHORE

Poland Wiatromill performs the second

stage of onshore wind project Banie-Kozielice adding

56 MW capacity

SEGMENT MARKET DESCRIPTION

Commercial OpportunitiesEXAMPLE


HIGH VOLTAGE POWER GRID

Bulgaria Tender in 2016 for construction of 400kV power line to connect to

substations for Bulgarian TSO, EAD

SOLAR PV PLANT

Croatia Developer Flamtron plans to build 1 MW ground-mounted solar PV farm

NUCLEAR PLANT MODERNIZATION

Croatia & Slovenia

Planned extension until 2043, adding 1.1 GW capacity: current technology

PWR and LWR

CHP POWER PLANT

Latvia Latvenergo AS plans construction of a 400 MW coal and biomass-fired

power plant

SOLAR PV PLANT

Poland European Energy Fund negotiates terms to build a 40 MW solar PV plant

in northern Poland

COAL PLANT UPGRADE

PolandCoal-fired boiler modernization

including the addition of desulphurisation

and denitrogenation units

NUCLEAR PLANT REHAB

SlovakiaEnel SpA decomissions

[2] VVER 440 / V-213 reactors by 2025 to be replaced by

[2] V-213+ type




BIOGAS PLANT

Croatia PIK-VINKOVCI prepares a 2 MW biogas plant construction

WIND ONSHORE

Estonia EPC for a 52 MW Eesti Energia AS owned onshore wind farm

planned for 2017

EXTRA NUCLEAR UNIT

Hungary 2nd stage of nuclear project adding [2] VVER-1200 units to start

in 2018 or 2019

HYDRO-POWER PLANT

EXTENSION

Lithuania Lietuvos Energijos Gamyba plans a new 225 MW power generator for existing pumped storage hydro-plant

CHP PLANT MODERNIZATION

PolandPGNiG Termika SA calls for

modification of coal-fired power & heat infrastructure to allow connection of a new CC unit

NEW NUCLEAR CAPACITY

Poland EPC for a 6 GW nuclear power plant in 2 stages for PGE EJ1, nuclear power

subsidiary of utility PGE

NEW COAL PLANT BLOCK

RomaniaSC Complexul Energetic Rovinari

plans to add a new 500 MW lignite coal-fired power block

to existing facility



C A R B O12

K E Y M A R K E T S

CROATIA

OVERVIEWThe power generation is dominated by Hrvatska Elektroprivreda (HEP), which is a national electricity company engaged in electricity production, transmission and distribution. The conventional power market, with 24% in electricity generation in 2014, is dominated by big thermal plants owned by HEP using coal, oil and gas as fuel. Import covers 28% of total energy consumption and the majority of import is supplied by the Slovenian-based Krško nuclear plant.

RENEWABLE ENERGYIn Croatia the renewable energy support system is based on FITs. Existing Certificates of Origin have the sole function of providing proof of renewable energy generation. Renewable power sector is dominated by big hydropower plants. They don’t receive any public support, and yet deliver nearly 70% of total electricity generation. The biggest green power type supported by FITs is wind with 82% of installed green capacity in 2014. Since 2014 new FITs have been in operation, supporting bigger installations as well. Nevertheless, power producers need to hurry, if they plan to benefit from the current support system. The new law on renewables is coming into force in Jan 2016. It introduces different support scheme for eligible power producers. However, due to extra legal procedures, the new system is delayed and expected to become operational from H2 2016.

FORECASTNew system, new hopes. In the forthcoming capacity, apart for further growth in wind (405 MW of pipeline) we can also expect biomass (57 MW) and biogas (17 MW) to increase their share in the energy mix. The solar PV sector gets slower with 15 MW of reported forthcoming projects, while biomass is going to triple its capacity according to the current data on the amount of signed electricity purchase contracts.

UNITED KINGDOM

IRELAND

FR

CH

DE

BE

NL

LU

AT

IT

BiH SRB

MNE

AL

MK

KOS

ANDORA

SPAINPORTUGAL

MOROCCO

ALGERIA

TUNISIA

MT

GR TR

GEORGIA

AZERBAIJANARMENIA

UA

BY

FI

SE

NO

MD

LIBYA

EGYPT

JORDAN

ISRAEL

SYRIA

LEBANON

CYPRUS

IRAQ

RU

RU

DK

LI

SLO

PL

BG

SK

HU

LT

LV

ES

RO

CZ

500 MW

PVBiomassWindFossil fuelsHydro

0.3%Solar PV

1.24%Biomass

5.99%Wind

23.94%Fossil fuels

68.53%Hydro

POWER GENERATION IN 2014

Statistics - CountryTotal installed capacity

4,547 MWPipeline capacity

1,002 MW

Statistics - CARBO database coverage

Total installed capacity 2,593 MW

Pipeline capacity 1,027 MW

Who is developing power assets?

C.E.M.P., Koncar Renewable Sources,

WPD, RP Global

CARBO INTEL

LEGEND

0-25%

25-50%

50-75%

75-100%

LEGEND

OFFSHORE WIND

BIOMASS NATURAL GAS

HYDRO COAL

SOLAR PV NUCLEAR

KEY PIPELINE 2014-2025

SOURCE: CLEANTECH

SOURCE: CLEANTECH

EXAMPLE

C A R B O23

R E G I O N A L O V E R V I E W

WHOLESALE ELECTRICITY PRICES

PRICE PER MWh (€)

€30-€33

€34-€36

€37-40

Q1 2015

UNITED KINGDOM

IRELAND

FRCH

DE

BE

NL

LU

AT

IT

BiHSRB

MNE

AL

MK

KOSANDORA

SPAINPORTUGAL

MOROCCO

ALGERIA

TUNISIA

MT

GR TR

GEORGIA

AZERBAIJANARMENIA

UA

BY

FI

SE

NO

MD

LIBYA

EGYPT

JORDAN

ISRAEL

SYRIA

LEBANON

CYPRUS

IRAQ

RU

RU

DK

LI

SLOVENIA

CROATIA

BULGARIA

SLOVAKIA

HUNGARY

POLAND

LITHUANIA

LATVIA

ESTONIA

ROMANIA

CZECH REPUBLIC

€32.5

€37.1

€37.0

€35.4

€32.3€33.0

€39.7

€36.3€40.2

NO DATA

NO DATA

The electricity wholesale prices, the core element of the final energy price,

depend on the power generation mix, market

structure, flexibility of demand and pricing

mechanisms. In H1 2015 some of the

lowest prices in the CEE region were

reported in Estonia and the Czech Republic. The highest on the other hand were in

Slovenia and Hungary. Poland stays in the

middle of the pricing range.

CARBO INTEL

SOURCE: EUROPEAN COMMISSION

EXAMPLE

C A R B O P O L A N D O V E R V I E W27

No. COUNTRY ASSET NAME FUEL TYPE OWNER / PARENT COMPANY EQUIPMENT CAPACITY INSTALLED /

PIPELINE* DESCRIPTIONCAPEX /

ESTIMATED CAPEX ** [EUR]

BEST CONTACT

PIPELINE

1 PL Baczyna WIND ONSHORE EDP Renewables Polska Sp. z o.o. under development 120* MW Expected connection to the grid (...) 197,780,880** confidential

2 PL Kluczborg (Smardy WIND ONSHORE DP Wind 1 Sp. z o.o./Drozapol- 4 WTG Vestas V90 2.0MW 8* MW Bank loan EUR: 7,500,000 (...) 12,500,000 confidential

3 PL Konin - Jóźwin 2A, 2B WIND ONSHORE Konin Wiatr Energia Sp. z o.o. / 9 WTG GE 25.3* MW Equity provided by Vortex energy (...) confidential confidential

4 HR Ogorje (Vjetroelektrana WIND ONSHORE Aiolos Projekt d.o.o. / Akuo 14 WTG Vestas V112/3000 42* MW It is expected to be functional by (...) 72,000,000 confidential

5 HR Rudine (Vjetroelektrana WIND ONSHORE Vjetroelektrana Rudine d.o.o. / RP 12 WTG GE 2.85-103 34.2* MW RP Global Holding owns the (...) 53,000,000 confidential

6 LT Silute WIND ONSHORE Silute Vejo Projektai UAB / Nelja 24 WTG GE - 2.5 MW 60* MW The asset will be launched in 2015 (...) 119,500,000 confidential

7 PL Skurpie WIND ONSHORE Farma Wiatrowa 4 Sp. z o.o. / 16 WTG Siemens SWT-2.3-108 36.8* MW Loans: EBRD (max 271,4 mln PLN), (...) 60,652,802** confidential

8 PL Bałtyk Środkowy III WIND OFFSHORE Polenergia Bałtyk III Sp. z o.o. / under development 600* MW Project is currently at the stage (...) 2,460,000,000 confidential

9 EE Hiiumaa WIND OFFSHORE OÜ Hiiumaa Offshore Tuulepark / confidential 1100* MW Expected construction period (...) 2,000,000,000 confidential

10 SI Krško II NUCLEAR GEN-Energija d.o.o. confidential 696* MW confidential (...) 2,000,000,000 confidential

11 CZ Temelín NUCLEAR ČEZ Group VVER 1000 Type V 320 2,133 / 1,400* MW confidential (...) 3,078,735,558 confidential

12 HU Oroszlany Powerplant LIGNITE Vertesi Eromu Rt / Hungarian CHP 240 / - 240* MW Until the end of 2015 - brown (...) 642,000,000** confidential

13 PL Turów LIGNITE PGE GiEK S.A. coal-fired fluidised bed boiler 1,499 / 450* MW New capacity is under way. (...) confidential confidential

14 RO Bretea HYDROPOWER Hidroelectrica SA confidential 12* MW confidential (...) 58,000,000 confidential

15 PL Elektrownia północ HARD COAL Polish Energy Partners Spółka 2 blocks 800 MW 1600* MW confidential (...) 2,439,024,390 confidential

16 LT Kurzeme Coal Power HARD COAL State / Latvenergo AS CHP, fuel: bitumunious coal (85%), biomass (up 500* MW confidential (...) 680,000,000 confidential

17 HR Plomin (TE Plomin: TE HARD COAL TE Plomin d.o.o. / HEP Generation Condensing thermal power plant with two units: 330 / 500* MW The first generating unit, Plomin (...) 528,000,000** confidential

18 PL Bioelektrownia Wińsko BIOMASS Polish Energy Partners Spółka Alstom condensing turbine, boiler DP Cleantech 31* MW Expected commissioning in 2019. (...) 77,878,048** confidential

19 HU Dunaujvaros BIOMASS Hamburger Hungaria confidential 42* MW confidential (...) 150,000,000 confidential

INSTALLED

20 CZ Andelka (Andělka) WIND ONSHORE WSB Andelka s.r.o. / WSB Neue 6 WTG Senvion MM92 12.3 MW confidential (...) confidential confidential

21 EE Aulepa (Aulepa WIND ONSHORE Eesti Energia AS 16 WTG WinWind 3.0 MW 48 MW confidential (...) confidential confidential

22 PL Białogard WIND ONSHORE Contino Białogard Sp. z o. o. / 2 WTG Nordex N100/2500 5 MW European Regional Development (...) 9,493,512 confidential

23 SK Cerova WIND ONSHORE Green Energy Slovakia s.r.o. 4 WTG Vestas V47/660 2.64 MW EU PHARE fund provided €1.8 (...) confidential confidential

24 RO Crucea WIND ONSHORE Sc Crucea Wind Farm SA / Steag 36 WTG Vestas V112/2999 108 MW Steag holds 100% ownership. (...) 192,000,000 confidential

25 RO Chirnogeni WIND ONSHORE EP Wind Project (Rom) Six 32 WTG Nordex N90/2500 80 MW Bank loans provided by a (...) 130,000,000 confidential

26 SI Dolenja vas WIND ONSHORE Alpen Adria Energie GmbH 2 WTG Enercon E70 - 2.3 MW 4.6 MW confidential (...) 11,500,000** confidential

27 PL Jarogniew - Mołtowo WIND ONSHORE Beta Sp. z o.o. / GDF Suez Energia 10 WTG Senvion MM92 2.05MW 20.5 MW confidential (...) 30,500,000 confidential

28 HR Jelinak (Vjetroelektrana WIND ONSHORE Vjetroelektrana Jelinak d.o.o. / 20 WTG Acciona Windpower 1.5 MW 30 MW confidential (...) 55,000,000 confidential

29 BG Kalin (Калин ветропарк) WIND ONSHORE Rübsamen Windenergie GmbH 55 WTG Vestas V100 99 MW confidential (...) 170,000,000** confidential

30 BG Kavarna NW / WIND ONSHORE AES Geo Energy 52 WTG Vestas 156 MW 198 mln EUR provided by a (...) 270,000,000 confidential

31 PL Kukinia WIND ONSHORE AWK Sp. z o.o. / RP Global Sp. 23 WTG ENERCON E82 E2, 2.3 MW 52.9 MW Co-financed by the European (...) 87,188,405** confidential

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