COMPANY

Prometheus Renewable Energy Development Solutions Ltd.

The company has been established in 2007 as a company limited by shares and registered in Cyprus (registration no.:190215). The owners and management are of Hungarian origin and consist of civil and mechanical engineers with 80+ cumulated years of experience in the energy and infrastructural sector.

PRORED Solutions has started its activities in Hungary and has been involved in the development process of various projects in Biomass, Biofuel and Geothermal field. It has successfully completed the preparation of a Biomass fuelled Bioethanol Facility in a partnership with EBP European Bio Power Technology LLc. All the design, permits have been completed, but the project has been abandoned by the Swedish owner.

The Company Goals and Objectives

We provide turnkey project development services to developers of power projects in Africa. Our main focus of interest is the Sub Saharan and especially the East African Region, i.e. Burundi, Kenya, Rwanda, Tanzania and Uganda.

We intend to become a key player in the East African market by providing our services for the private and governments sectors too in the development of renewable energy power plants and provide sustainable energy supply for these poorly serviced region.

We intend to develop a healthy projects portfolio, by selecting the technologies from the different renewable energy sectors, therefore avoiding the energy supply to be dependent too much on some privileged technology, like the Hydro, which is providing absolute majority of the energy demand today.

We are also intending the provide training during the project implementations to enthusiastic local engineers and get them involved in the development process more deeply as the time comes. Certainly during the first period we shall utilize the highly professional expatriate staff.

The Business Philosophy

It is most important in this business to provide reliable and transparent services to the customers. We intend to provide a “one stop, one shop” services, which means we are aiming to provide full turnkey services throughout the entire project realization process up to the Start of Commercial Operation.

We shall utilize to the necessary extent independent consultants, advisors as subcontractors and also hire the engineering staff on project by project basis, but build a fast growing core engineering staff from international and local staff members.

In most cases we should be fully independent from technologies, or technology providers, however there could be individual projects which are tailored to one particular technology or manufacturer. If that is the interest of the project sponsor due to arranging of different grants or vendor’s finance, we should certainly be ready to obey this demand.

Our services should be basically interesting to those local project sponsors, who have got the project idea, but do not have in-house resources to develop those to the bankable stage, additionally might have financing shortage too, consequently might need even at this early stage outside finance in form of grants, or venture capital type of funding.

We could also be beneficial for those international investors, who do not have same level of local industrial and general knowledge like us, lack of government and authorities contacts, thus should be interested to minimize those risks.