Co-Investing

Hungary 100MW PV Power Plant

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Project ID: 348000003
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The estimated annual power generation (without taking into account the degradation of the solar panels) is 125,889 MWh. Panel degradation is 2.5% in the first year of the commercial operation and 0.7% annually afterwards (80.7% performance is guaranteed by the manufacturer for 25 years).

    Project schedule:

  • Create

  • Approved

  • Preheat

  • Co-investment

  • Road
    -show

  • Negotiation

  • Signing

CHN

Project Overview

Project name
Hungary 100MW PV Power Plant
Project type
Green
Sectors
Renewable Energy
Project location
Hungary Kaposvar Kaposvar
Project region type
Mainland
Total investment amount
99.70 M EURO
Investment type
Other
Internal Rate of Return
14.0%
Project developer
D*****

Project Progress

1    Project Site Survey
 
5    Complete Project Investment Signing
 
2    Project Feasibility Study Report
 
6    Complete Project Financing Procedure
 
3    Project Land Permits
 
7    Complete EPC Project Signing
 
4    Project Various Permits
 
8    Complete Project Construction
 

Project Details

Basic data • Land area: 93,030 sq km • Population: 9.8 million • Capital: Budapest • Number of counties: 19 • 3 largest cities: Budapest (1.7 million), Debrecen (203 thousand), Szeged (163 thousand) • Form of state: Multiparty republic • GDP per capita: USD 26,701 (2016) The estimated annual power generation (without taking into account the degradation of the solar panels) is 125,889 MWh. Panel degradation is 2.5% in the first year of the commercial operation and 0.7% annually afterwards (80.7% performance is guaranteed by the manufacturer for 25 years). • Commercial operation is planned for 25 years. Total generated electricity during 25 years useful life of solar panels is estimated to be 2,755,779 MWh. According to the business plan the total amount will be sold for state subsidized price under the FiT scheme. • The estimated initial capital expenditure is EUR 98.5 mn, out of which EUR 57.7 mn is the EPC cost. • Management seeks to finance 70% of the initial investment by investment loan of a financial institution. • The estimated equity-level IRR of the Project is 10.95% based on the assumed financing structure.

Investment Environment

The Economist Intelligence Unit forecasts that after estimated real GDP growth of 3.8% in 2017, growth will remain resilient, at 3.5% in 2018, before slowing to an average of 2% in 2019-22. • After broadly stable prices in 2016, the estimated average inflation is 2.4% per year in 2017. EIU forecasts a further rise to 2.8% in 2018 as wages increase and private consumption expands, before a slowdown to an average of 2.4% per year in 2019-22. • Policy continuity is expected with the use of state measures to boost growth and hold down domestic utility prices. The emergence of sectoral labor shortages means that job creation is no longer a priority. • In January 2017 a uniform corporate income tax of 9% replaced the two previous rates of 10% and 19%. The change is mostly favorable to large companies with a tax base of more than HUF 500 mn (EUR 1.6 mn) • Investors increasingly face labor shortages in Hungary, the estimated average unemployment rate in 2017 is 4.3%

99.70 M EURO

Target investment amount

8.09 M EURO
Confirmed investment
8%
Progress
Confirmed investors number:2
Co-investment deadline:2019-07-11

Lead investor :2

  • Gran******Ltd.

    CHIN******ITED

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Customer Representative

Mr Zhang Customer Manager

jing.zhang@bjciri.com

+86 13601315595