in Hungary - Hungarian Investment and Trade Agency
in Hungary - Hungarian Investment and Trade Agency
in Hungary - Hungarian Investment and Trade Agency
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fund<strong>in</strong>g<br />
RequiRement (euR)<br />
Targeted fund<strong>in</strong>g<br />
requirement is<br />
5 000 000 – 7 000 000 EUR<br />
renewaBle energy ArAb – HungAriAn Economic Forum – 2012 Budapest<br />
<strong>Investment</strong> opportunity <strong>in</strong> the renewable energy<br />
operations of ALTEO Plc<br />
<strong>in</strong>vestment summaRy<br />
<strong>in</strong>dustry<br />
Renewable energy<br />
Executive summary<br />
ALTEO operates <strong>in</strong> the power generation <strong>and</strong> power trad<strong>in</strong>g bus<strong>in</strong>ess with<br />
the primary focus on power generation from renewable energy sources like<br />
w<strong>in</strong>d <strong>and</strong> biogas. ALTEO owns 10 power plants <strong>in</strong> <strong>Hungary</strong> with a total of<br />
35 MWe <strong>in</strong>stalled power generat<strong>in</strong>g capacity <strong>and</strong> 237 MWth <strong>in</strong>stalled heat<br />
generat<strong>in</strong>g capacity. ALTEO’ renewable energy portfolio <strong>in</strong>cludes 3 w<strong>in</strong>d<br />
power plants; 2 l<strong>and</strong>fill gas utiliz<strong>in</strong>g power plants; <strong>and</strong> 2 hydro gas power<br />
plants. The rest of the power generat<strong>in</strong>g portfolio consists of 3 gas fired<br />
comb<strong>in</strong>ed cycle, heat <strong>and</strong> electricity generat<strong>in</strong>g power plants. ALTEO is<br />
seek<strong>in</strong>g further fund rais<strong>in</strong>g to f<strong>in</strong>ance its <strong>in</strong>vestments <strong>in</strong> renewable energy<br />
generation, primarily weather dependent renewable (w<strong>in</strong>d <strong>and</strong> solar) energy<br />
generation <strong>in</strong> <strong>Hungary</strong>, Romania <strong>and</strong> Bulgaria.<br />
<strong>in</strong>vestment objective<br />
F<strong>in</strong>ancial <strong>in</strong>vestor<br />
Expected collaboration with <strong>in</strong>vestor<br />
ALTEO is ready to discuss an <strong>in</strong>vestment opportunity <strong>in</strong>to either a Special<br />
Purpose Vehicle to be set up by ALTEO to manage its renewable energy<br />
operations, or <strong>in</strong> ALTEO Plc itself. In either case potential <strong>in</strong>vestors will be<br />
offered a maximum 49% stake <strong>in</strong> the target entity.<br />
<strong>in</strong>vestment return <strong>in</strong>dicator<br />
5 years return period with a target average annual ROI of 30%<br />
Stage of development<br />
Ramp up/growth phase<br />
Bus<strong>in</strong>ess summaRy<br />
Provide a short description of the bus<strong>in</strong>ess<br />
ALTEO was established <strong>in</strong> 2008 as an energy production <strong>and</strong> energy services<br />
company focus<strong>in</strong>g on alternative electric <strong>and</strong> heat energy solutions<br />
<strong>in</strong> the small power plant segment (power plants with less than 50 MWe<br />
<strong>in</strong>stalled capacity) <strong>and</strong> power trad<strong>in</strong>g. Currently ALTEO owns 10 power<br />
plants out of which 7 produce electricity from renewable sources like w<strong>in</strong>d,<br />
l<strong>and</strong>fill gas <strong>and</strong> hydro gas. The rema<strong>in</strong><strong>in</strong>g 3 power plants are gas fired<br />
comb<strong>in</strong>ed cycle, electricity <strong>and</strong> heat generat<strong>in</strong>g, power plants. Our power<br />
trad<strong>in</strong>g activity currently has a customer portfolio with 75 GWh power<br />
purchase, generat<strong>in</strong>g a portfolio of EUR 8 million. ALTEO’s customers<br />
are primarily bus<strong>in</strong>ess users, like mult<strong>in</strong>ationals (e.g.: Audi <strong>Hungary</strong> <strong>and</strong><br />
He<strong>in</strong>eken) <strong>and</strong> other small <strong>and</strong> medium sized local bus<strong>in</strong>esses.<br />
Description of your product(s) <strong>and</strong>/or services<br />
ALTEO is seek<strong>in</strong>g fund rais<strong>in</strong>g of EUR 5-7 m to f<strong>in</strong>ance part of its <strong>in</strong>vestments <strong>in</strong><br />
weather dependent (w<strong>in</strong>d, solar) <strong>and</strong> biogas based renewable energy generat<strong>in</strong>g<br />
projects <strong>in</strong> <strong>Hungary</strong>, Romania <strong>and</strong> Bulgaria. As per project, the target<br />
project size is between EUR 2 <strong>and</strong> EUR 15 million <strong>in</strong> terms of total <strong>in</strong>vested<br />
capital need. Capacity-wise the target project size is between 1.5 <strong>and</strong><br />
10 MWe <strong>in</strong> case of w<strong>in</strong>d; 0.5-5 MWe <strong>in</strong> case of solar; <strong>and</strong> between 1-3 MWe<br />
<strong>in</strong> case of biogas.<br />
The key projects <strong>in</strong> our pipel<strong>in</strong>e requir<strong>in</strong>g f<strong>in</strong>anc<strong>in</strong>g are:<br />
• <strong>Investment</strong> <strong>in</strong> 2 licensed to be established biogas power plants with<br />
aggre gate capacity of 1.6 MWe <strong>in</strong> <strong>Hungary</strong><br />
• Solar power plants <strong>in</strong> <strong>Hungary</strong> with aggregate capacity of 3 MWe<br />
• 2 solar power plants <strong>in</strong> Romania with aggregate capacity of 4.2 MWe<br />
Any other relevant <strong>in</strong>formation<br />
ALTEO Plc. is listed on the Budapest Stock Exchange. ALTEO has recently<br />
completed a capital <strong>in</strong>crease of cca: 1 million Euros with several f<strong>in</strong>ancial<br />
<strong>in</strong>vestors.<br />
contact<br />
<strong>in</strong>foRmation<br />
ALTEO Energy Service<br />
Provid<strong>in</strong>g Plc.<br />
Mr Domonkos Kovács,<br />
Member of the Board,<br />
Chief <strong>Investment</strong> Officer<br />
Phone: +36 1 474 9782<br />
Mobile: +36 20 970 9748<br />
Email:<br />
kovacs.domonkos@alteo.hu<br />
www.alteo.hu
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