Windmine AG is developing a wind park on the shoreline of the Baltic sea, near to Liepaja, Latvia. Project has unbeatable superstar location – close to industrial zone of Liepaja that supplies with development opportunities and open turbine formation towards main wind currents heading from the sea which brings all main characteristics close to an offshore park performance stats, but with an onshore park building expenses.
Current Status
Project has received all permits and certifications needed to start building the windpark. Once necessary amount of funds is raised, Windmine will sign agreements with technology suppliers (Enercon for wind turbines, Siemens/ABB for substation appliances), construction and supervision partners to launch building phase of the park that is estimated to take 12-14 months until completion and putting facility into operation.
Problem or Opportunity
World is consuming increasing amounts of electricity. We are already seeing a shortage of energy supply. Most of the energy is coming from non-renewable resources which creates pollution and directly affects all species on earth. With upcoming carbon tax regulations, energy will see the price increase. Generating energy from renewable resources will be cheaper and will lead to less pollution. Private investors and countries are ramping up its support for green energy. Windmine wants to ride this wave
Solution (product or service)
We have approved project from the government to start work on wind park. Our wind park will contain 15 turbines and generate 4 MW of power per each. The wind park will be built near the Baltic Sea where we will have a sustainable flow of wind.
Competitors
Theoretically all energy producers that sell their energy on NordPool market are our competitors. Yet we have a number of advantages to consider. At first, Latvia uses more energy than it is able to produce. Every year approximately 2TW of energy are purchased from external sources to cover domestic consumption. Compared to any other operating windpark we are going to use technology that is going to be the latest, the most advanced and certainly more efficient anyone else currently have in the market.
Advantages or differentiators
Our position on the shoreline of the Baltic sea positioned towards main wind currents with no existing obstacles provides us with prime location that allows to stabilize our average annual output reaching over 32% average output from installed production capacity of 60MW. This is called “capacity factor” please take a further read for deeper details in our Whitepaper.
Money will be spent on
Majority of the funds will be spent on wind park development. There is no need to do extensive marketing in the first phase which would create additional costs.
Offer for investor
We will issue debt bonds for investors which will yield fixed % per year with possible buybacks and conversions in the future. Please see more info in documents, which you will find in our website! (whitepaper, pitch deck, investor information)
We are excited to start the collaboration with innoenergy, which could be classified as an accelerator which helps companies who are developing green energy-related projects in Europe! We haven't participated in direct accelerator programs, but we have advisors and mentors from specific industry which are happy to help us with connections and some advice.
