L. A. Invest Group Investment in the production of Biomass Pellets

Project facts

Project promoter
L.A. Invest Group OOD
Project Number:
BG04-0003
Target groups
Small and medium-sized enterprises (SME)
Status:
Completed
Initial project cost:
€329,350
Final project cost:
€329,115
From EEA Grants:
€ 166,785
The project is carried out in:
Bulgaria

Description

The aim of the project proposal is to contribute to reducing GHG and air pollutants through increased share of RES for heating. Following an analysis of pellets’ market opportunities pellets at domestic and external markets, the company's management has elaborated its development strategy, directed to a new business - the production of products that are competitive not only in domestic but also external markets. With the start of this activity conditions for sustainable and independent development of the enterprise will be created. Production of market attractive product will give an opportunity the profits of the enterprise to be increased and will contribute to its long-term development. Conditions for the sustainable competitiveness of the enterprise will be created by establishing of sufficient current income and added value in the long term. The project will enable the enterprise to be successful, by providing the opportunity for investments in low-carbon products, increasing energy efficiency and other measures to protect the environment. As very important result of the project will be gaining of experience in the development and management of donor projects, which is essential for achieving a maximum cost effectiveness. Improvement of management, technical and financial capacity of the company will support its sustainable development over a long period of time.

Summary of project results

The project planned results have been achieved and met the general and specific objectives: installed line for the production of pellets with an annual capacity for production of pellets - 5,760 metric tons. As a result of the replacement of conventional fuels used for heat production avoidance of CO2 emissions by 10,892 tons annually will be achieved. The specific objectives that were determined and were achieved are: utilization of wood waste and little material in the timber; creating new jobs and reducing social and economic disparities between EEA and Bulgaria.

Summary of bilateral results