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P-Z-M GmbH was founded with the primary goal of developing Utility-Scale solar energy facilities.
We are focused exclusively on producing electricity from photovoltaic

resources and are very well positioned to benefit from the rapid growth of the renewable energy market required to meet the challenging European 2020 targets. Together
with our partners, we design, engineer, permit, finance, procure, manage, commission, maintain and own the renewable energy assets we develop.
As new technologies develop and become more cost effective and efficient, we firmly believe that renewable resources represent the future in energy generation, even if
traditional energies like coal and nuclear will not be entirely obsolete. P-Z-M GmbH is currently developing multiple Utility-scale solar energy facilities in Romania, becoming
the largest developer of photovoltaic energy facilities in Romania.
ROMANIA’s SOLAR POTENTIAL
Located in South-Eastern Europe, Romania takes the 6th best place for solar energy in European Union. With over 200 sunny days per year, the Southern part of Romania has a
great potential at yearly solar irradiation of 1.650kWh/m2. The energy policy of Romania aims to achieve a significant growth of electricity production from renewable
resources so that Romania meets the compliance guidelines set by European Union. Due to legislative improvement, the Parliament has passed the Renewable Energy Law
139/2010 to further encourage investment of “green” projects. The Green Certificates (GC) scheme allows producers of electricity from solar resources to receive 6 Certificates
per MWh for 15 years, provided the project is connected to the grid by 2016.
Basically, a GC is a title document which attests that a quantity of electricity was produced using renewable energy sources.
The GC scheme is monitored by National Energy Regulatory Agency (ANRE) in an orderly fashion, as follows:
1. Each electricity SUPPLIER is required to purchase a certain number of GC according to mandatory quota imposed by law. The annual quota of GC purchases increases from
8.3% of annual turnover in 2010 to 20% in 2020. Between 2020-2030 the Ministry of Economy will further decide the quotas, but it will not below 20%. During the month of
December each year, ANRE publishes for each electricity SUPPLIER the annual quota of GC required to purchase for the next year. The electricity SUPPLIER that doesn’t meet
its mandatory annual quota of GC ownership pays a penalty fee of EUR110/GC.
2. For Renewable energy PRODUCERS, each provides Transelectrica a report with the actual amount of MWh fed into the electricity grid the previous month. Based on this
data, a photovoltaic station receives monthly from Transelectrica 6 GC for each 1MWh. Wind farms receive 2 GC, biomass facilities receive 2 GC, etc. The PRODUCER can sell
the GC freely on the OPCOM market or to any other interested party.
This document contains confidential or legally privileged information that is intended only for the INTENDED RECIPIENT. If you ARE the Intended recipient of this document, then any disclosure, copying, distribution, or reliance upon the
contents of this document is solely used at the discretion of P-Z-M GmbH. Thus any and all use of the contents of this document must be in accordance with P-Z-M GmbH agreed terms of use. If you are NOT the intended recipient,
you are hereby notified that any disclosure, copying, distribution, or reliance upon the contents of this document is STRICTLY PROHIBITED. If you have received this document in error, please disregard and destroy immediately, so that P-Z-M GmbH
can insure its proper handling. Thank you.
During 2008-2025, the GC price may vary between EUR27/GC and EUR55/GC. The market is very liquid so far, due to a shortage of GC on the market and it’s trading flat at
EUR55/GC. Beyond 2025, the trading price will be set freely by the market price based on supply and demand, but it will not be below the average price traded during 2025.
The electricity is traded separately from the GC, therefore the revenue stream for electricity PRODUCERS from renewable resources is made up of income from selling both the
GC and the electricity on the open market.
Based on OPCOM (Romania’s electricity exchange) trading records during 2011, the price per Green Certificate is EUR55, which means a total income for solar generated
electricity for producers of at least EUR375/MWh.
P-Z-M GmbH has numerous photovoltaic projects under development, all being at various stages in receiving government permits and authorizations. It is estimated that
these projects will be “fully-permitted” by the end of 2012.
PV Projects Performance & Data
Total capacity installed: 741 MW to 851 MW

Yearly electricity production: * 958.700 MW
Total Investment: ** EUR 1.288.240.000
Income/yr (EUR45/MWh): EUR 43.141.500
Income/yr (6 Green Certificates/MWh): EUR 316.071.000
Total Income/yr: EUR 359.212.500
Gross Return on Investment: 27,8%
Note:
* Yearly electricity production data is based on official PVG figures.
** Total investment includes the grid connection amount of EURϳϱ.000/MW (estimated), and an estimated cost of EURϮϮ0.000/MW.
contents of this document is solely used at the discretion of P-Z-M GmbH. Thus any and all use of the contents of this document must be in accordance with P-Z-M GmbH´s agreed terms of use. If you are NOT the intended recipient,
Site Locations
Map legend:
1. Rahman PV – Tulcea County
2. Castelu PV – Constanta County
3. Calafat PV – Dolj County
4. Ghizdaru PV – Giurgiu County
5. Izvoru PV – Giurgiu County
6. Jimbolia PV – Timis County
7. Mizil PV – Prahova County
8. Sahateni PV – Buzau County
9. Gradinile PV – Olt County
10. Dragalina PV – Calarasi County
11. Dumbrava 1 PV – Dambovita County
12. Dumbrava 2 PV – Dambovita County
13. Sprancenata PV – Olt County
14. Mozaceni PV – Arges County
15. Coteana PV – Olt County
16. Umbraresti PV – Galati County
Solar Map
contents of this document is solely used at the discretion of P-Z-M GmbH. Thus any and all use of the contents of this document must be in accordance with P-Z-M GmbH`s agreed terms of use. If you are NOT the intended recipient,
Project status
Project name
Land ownership Land Urbanism Environmental Grid Connection Grid Connection
Other Permits Building Permit
Acquisition Permit Approval Study Approval
Rahman 10 MW Municipality 1 MONTH
Castelu 20 MW Municipality 3 MONTHS 1 MONTH 1 MONTH
Calafat 110 MW Private owner 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH
Ghizdaru 35 MW x 2 Private owner 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH
Izvoru 25 MW Private owner 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH
Jimbolia 27 + 23 MW Private owner 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH
Mizil 10 + 11 MW Private owner 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH
Sahateni 55 MW Private owner 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH
Gradinile 40 MW Municipality 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH
Dragalina 26 + 49 MW Private owner 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH
Dumbrava 22 + 27 + 20 MW Private owner 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH
Dumbrava 30 + 70 MW Municipality 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH
Sprancenata 49 MW Municipality 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH
Mozaceni 35 MW Private owner 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH
Coteana 40 MW Municipality 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH
Umbraresti 21 MW Private owner 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH
9.9 mw Rahman PV – TULCEA
“Rahman Solar Park 9.9 MW” is located in Dobrogea region of Romania, on the
perimeter of Rahman village,Tulcea County, on a plot land of 20 hectares, on a 25
year long-term concession contract with Casimcea Town Hall. Energy produced will
be fed into the national electricity grid through the ENEL 20kV OHL located on the
perimeter of the solar park.
PROJECT PERFORMANCE & DATA (based on preliminary estimates)

Electricity production of “Rahman Solar Park 9.9MW”:
Total capacity installed: 9.9MW

Connected to OHL 20K line, owned and operated by ENEL
Mean annual electricity production (est.): 12.000 MWh
Project total value: EUR 15.840.000
20 HA
Income/yr (EUR45/MWh): EUR 540.000
TOTAL INCOME/yr: EUR 4.500.000
Gross Return on investment: 28.4%
20 MW Castelu PV – CONSTANTA
“Castelu Solar Park 20MW” is located in Dobrogea region of Romania, on the

perimeter of Castelu village,Constanta County, on a plot land of 34 hectares, on a 25
year long-term concession contract with CasteluTown Hall. Energy produced will be
fed into the Transelectrica 400/110/20KV transformer station at Medgidia Sud, 3km
away.

Electricity production of “Castelu Solar Park 20MW”:
Total capacity installed: 20MW

Connected to Transelectrica 400/110/20KV transformer station
34 HA
110 MW Calafat PV – dolj County
“Calafat Solar Park 110MW” is located in southern region of Romania, on the

perimeter of Calafat town, Dolj County, on a plot land of 200 hectares, on a 25 year
long-term concession contract. Energy produced will be fed into the national
electricity grid through the 220kV Transelectrica station located meters away.
Electricity production of “Calafat Solar Park 110MW”:

Connected to 220/110kV Transelectrica station
Mean annual electricity production: 141.900 MWh
Project total value: EUR190.000.000
Income/yr (EUR45/MWh): EUR6.385.500
Income/yr (6 Green Certificates/MWh): EUR46.827.000
TOTAL INCOME/yr: EUR53.212.500
Gross Return on investment: 28%
* Project is still undergoing land acquisition.
70 to 90 mw Ghizdaru PV – Giurgiu
“Ghizdaru Solar Park 35 MW x 2" is located in southern part of Romania, on the

perimeter of Stanesti village, Giurgiu County, on two plots of 70 hectares each, on a
25 year long-term concession contract. Energy produced will be fed into the national
electricity grid through the 220kV OHL transformer station 8km away. Total capacity
installed could be between 70 MW to 90 MW depending on the technology used.

Electricity production of “Ghizdaru Solar Park 35MW x 2”:

Connect to Transelectrica 220/110kV transformer station
Gross Return on investment: 27,4%
24 to 28 MW Izvoru PV – Giurgiu
“Izvoru Solar Park 25MW” is located in southern part of Romania, on the perimeter
of Izvoru village, Giurgiu County, on a plot land of 50 hectares, on a 25 year long-
term concession contract. Energy produced will be fed into the national electricity
grid through the Izvoru 110kV transformer station 2km away. Total capacity
Electricity production of “Izvoru Solar Park 25MW”:

Connect to Izvoru 110kV transformer station
50 mw Jimbolia PV – timis
“Jimbolia Solar Park 27MW + 23MW” is located in Western part of Romania, on the
perimeter of Jimbolia town, Timisoara County, on two parcels of 50 and 43 hectares,
respectively, on a 25 year long-term concession contract. Energy produced will be
fed into the national electricity grid through the 110kV Jimbolia transformer station
3km away.

Electricity production of “Jimbolia Solar Park 27MW + 23MW”:
· Total capacity installed: 50MW

· Mean annual electricity production (est.): 62.500 MWh
· Project total value: EUR 80.000.000
· Income/yr (EUR45/MWh): EUR 2.812.500
· Income/yr (6 Green Certificates/MWh): EUR 20.625.000
· TOTAL INCOME/yr: EUR 23.437.500
· Gross Return on investment: 29.2%
18 to 23 mw Mizil PV – prahova
“Mizil Solar Park 10MW + 11MW” is located in southern part of Romania, on the
perimeter of Mizil town, Prahova County, on two parcels of 20 and 21 hectares,
respectively, on a 25 year long-term concession contract. Energy produced will be
fed into the national electricity grid through the 110kV Mizil transformer station
4km away. Total capacity installed could be between 18 MW to 23 MW depending
on the technology used.

Electricity production of “Mizil Solar Park 10MW + 11MW”:

49 to 65 mw Sahateni PV – buzau
“Sahateni Solar Park 55MW” is located in southern part of Romania, on the

perimeter of Sahateni village, Buzau County, on a plot land of 120 hectares, on a 25
year long-term concession contract. Energy produced will be fed into the national
electricity grid through the 110kV transformer station 5km away. Total capacity
Electricity production of “Sahateni Solar Park 55 MW”:
Total capacity installed: 55 MW

35 – 45 MW Gradinile PV – olt
“Gradinile Solar Park 40 MW” is located in southern region of Romania, on the

perimeter of Studina village, Olt County, on a plot land of 80 hectares, on a 25 year
long-term concession contract from the local townhall. Energy produced will be fed
into the national electricity grid through the Studina 110/20kV CEZ transformer
station 5km away. Total capacity installed could be between 35 MW to 45 MW
depending on the technology used.

Electricity production of “Studina Solar Park 40 MW”:
Total capacity installed: 40 MW

Connected to 110/20kV transformer station, owned and operated by CEZ
60 – 80 MW Dragalina PV calarasi
“Dragalina Solar Park 49MW + 26MW” is located in southern region of Romania, on

the perimeter of Dragalina village, Calarasi County, on a plot land of 160 hectares,
on a 25 year long-term concession contract. Energy produced will be fed into the
national electricity grid through the Dragalina 110/20kV ENEL transformer station
500m away. Total capacity installed could be between 60 MW to 80 MW depending
on the technology used.

Electricity production of “Dragalina Solar Park 49MW + 26MW”:
· Total capacity installed: 75MW

· Connected to 110/20kV transformer station, owned and operated by ENEL
· Mean annual electricity production: 93.000 MWh
· Project total value: EUR 120.000.000
· Income/yr (EUR45/MWh): EUR 4.185.000
· Income/yr (6 Green Certificates/MWh): EUR 30.690.000
· TOTAL INCOME/yr: EUR 34.875.000
· Gross Return on investment: 29%
60 – 75 MW dumbrava 1– dambovita
“Dumbrava Solar Park 22 + 27 + 20 MW” is located in southern region of Romania,

on the perimeter of Dumbrava village, Dambovita County, on 3 plots of land of 45ha,
55 ha and 40 ha, on a 25 year long-term concession contract. Energy produced will
be fed into the national electricity grid through the Dumbrava 220/110/20kV
transformer station 4.5 km away. Total capacity installed could be between 60 MW
to 75 MW depending on the technology used.

Electricity production of “Dumbrava Solar Park 69MW”:

Connected to 220/110/20kV transformer station
100 mw dumbrava 2 – dambovita
“Dumbrava Solar Park 100MW” is located in southern region of Romania, on the

perimeter of Dumbrava village, Dambovita County, on a 2 plots of land of 60 ha and
147 ha, on a 25 year long-term concession contract. Energy produced will be fed
into the national electricity grid through the Electrica OHL 110kv located 3 km away.

Electricity production of “Dumbrava Solar Park 100MW”:

Connected to 220/110/20kV transformer station
49 mw Sprancenata PV – olt
Sprancenata Solar Park 49MW” is located in southern region of Romania,

on the perimeter of Sprancenanta village, Olt County, on a plot land of 100
hectares, on a 25 year long-term concession contract from the local
townhall. Energy produced will be fed into the national electricity grid
through the Sprancenata 110/20kV CEZ transformer station 3km away.

Electricity production of “Sprancenata Solar Park 49MW”:

Income/yr (EUR45/MWh: EUR 2.745.000
TOTAL INCOME/yr : EUR 22.875.000
30 – 40 mw Mozaceni PV – Arges
“Mozaceni Solar Park 35MW” is located in southern part of Romania, on the

perimeter of Mozaceni village, Arges County, on a plot land of 65 hectares, on a 25
year long-term concession contract. Energy produced will be fed into the national
electricity grid through the 110kV Mozaceni transformer station located 1km away.
Total capacity installed could be between 30 MW to 40 MW depending on the
technology used.

Electricity production of “Mozaceni Solar Park 35MW”:

Mean annual electricity production: 41.300MWh
35 – 45 mw coteana PV – olt
“Coteana Solar Park 40MW” is located in southern region of Romania, on the

perimeter of Coteana village, Olt County, on a plot land of 75 hectares, on a 25 year
long-term concession contract from the local townhall. Energy produced will be fed
into the national electricity grid through the Coteana 110/20kV CEZ transformer
station 2km away. Total capacity installed could be between 35 MW to 45 MW
depending on the technology used.

Electricity production of “Coteana Solar Park 40MW”:

21 MW umbraresti PV – galati
“Umbraresti Solar Park 21MW” is located in

Eastern region of Romania, on the perimeter of
Umbraresti village, Galati County, on a plot land
of 37 hectares, on a 25 year long-term concession
contract. Energy produced will be fed into the
national electricity grid through the Ivesti
110/20kV Electrica transformer station 2km away.
PROJECT PERFORMANCE & DATA (based on

preliminary estimates)
Electricity production of “Umbraresti Solar Park

21MW”:
Total capacity installed:

21MW
Connected to 110/20kV transformer station,
owned and operated by Electrica
Mean annual electricity production:
26.000 MWh
Project total value:
EUR39.000.000
Income/yr (EUR45/MWh):
EUR1.170.000
Income/yr (6 Green Certificates/MWh):
EUR8.580.000
TOTAL INCOME/yr:
EUR9.750.000
Gross Return on investment:
25%

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P-Z-M GmbH was founded with the primary goal of developing Utility-Scale solar energy facilities.

We are focused exclusively on producing electricity from photovoltaic

ROMANIA’s SOLAR POTENTIAL

PV Projects Performance & Data

Total capacity installed: 741 MW to 851 MW

* Yearly electricity production data is based on official PVG figures.

Rahman 10 MW Municipality 1 MONTH

Castelu 20 MW Municipality 3 MONTHS 1 MONTH 1 MONTH

Ghizdaru 35 MW x 2 Private owner 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH

Izvoru 25 MW Private owner 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH

Jimbolia 27 + 23 MW Private owner 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH

Mizil 10 + 11 MW Private owner 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH

Sahateni 55 MW Private owner 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH

Gradinile 40 MW Municipality 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH

Dragalina 26 + 49 MW Private owner 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH

Dumbrava 22 + 27 + 20 MW Private owner 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH

Dumbrava 30 + 70 MW Municipality 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH

Sprancenata 49 MW Municipality 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH

Mozaceni 35 MW Private owner 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH

Coteana 40 MW Municipality 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH

Umbraresti 21 MW Private owner 2 WEEKS 1 MONTH 1 MONTH 3 MONTHS 1 MONTH 1 MONTH

PROJECT PERFORMANCE & DATA (based on preliminary estimates)

Total capacity installed: 9.9MW

“Castelu Solar Park 20MW” is located in Dobrogea region of Romania, on the

PROJECT PERFORMANCE & DATA (based on preliminary estimates)

Total capacity installed: 20MW

“Calafat Solar Park 110MW” is located in southern region of Romania, on the

PROJECT PERFORMANCE & DATA (based on preliminary estimates)

Electricity production of “Calafat Solar Park 110MW”:

Total capacity installed: 110MW

* Project is still undergoing land acquisition.

“Ghizdaru Solar Park 35 MW x 2" is located in southern part of Romania, on the

PROJECT PERFORMANCE & DATA (based on preliminary estimates)

Total capacity installed: 70MW

PROJECT PERFORMANCE & DATA (based on preliminary estimates)

Electricity production of “Izvoru Solar Park 25MW”:

Total capacity installed: 25MW

PROJECT PERFORMANCE & DATA (based on preliminary estimates)

· Total capacity installed: 50MW

PROJECT PERFORMANCE & DATA (based on preliminary estimates)

Total capacity installed: 21MW

“Sahateni Solar Park 55MW” is located in southern part of Romania, on the

PROJECT PERFORMANCE & DATA (based on preliminary estimates)

Electricity production of “Sahateni Solar Park 55 MW”:

Total capacity installed: 55 MW

“Gradinile Solar Park 40 MW” is located in southern region of Romania, on the

PROJECT PERFORMANCE & DATA (based on preliminary estimates)

Total capacity installed: 40 MW

“Dragalina Solar Park 49MW + 26MW” is located in southern region of Romania, on

PROJECT PERFORMANCE & DATA (based on preliminary estimates)

· Total capacity installed: 75MW

“Dumbrava Solar Park 22 + 27 + 20 MW” is located in southern region of Romania,

PROJECT PERFORMANCE & DATA (based on preliminary estimates)

Total capacity installed: 69MW

“Dumbrava Solar Park 100MW” is located in southern region of Romania, on the

PROJECT PERFORMANCE & DATA (based on preliminary estimates)

Total capacity installed: 100MW

Sprancenata Solar Park 49MW” is located in southern region of Romania,

PROJECT PERFORMANCE & DATA (based on preliminary estimates)

Total capacity installed: 49MW

“Mozaceni Solar Park 35MW” is located in southern part of Romania, on the

PROJECT PERFORMANCE & DATA (based on preliminary estimates)

Total capacity installed: 35MW

“Coteana Solar Park 40MW” is located in southern region of Romania, on the