Hotel in the mountains benefits from heat pump heating, Bulgaria

Hotel Shipkovo, Hranitelni Stoki
Stara Planina, Bulgaria
Heat pump installation
Investment Size
Financial results
Payback peroiod of 2.8 years; annual cost savigs of €23,150; IRR of 39%
CO2 savings
26 tonnes of CO2 per year
387 MWh per year of renewable energy generated

Hranitelni Stoki JSC has diverse business activities ranging from food trading and packaging to renting buildings and consultancy. The company built a brand new boutique Hotel Shipkovo in the Stara Planina mountains, in a village that offers excellent spa healing possibilities. Previously, the region was host to many recreation stations, which are now being reconstructed.

The company planned to invest in the installation of a modern heat pump system to generate its own reliable and high quality heating, as well as to keep energy costs low.

Hranitelni Stoki applied to BEERECL for a loan and advisory package. The BEERECL team performed analysis of the investment, particularly the potential for energy savings, technical-financial parameters, risks and environmental aspects.

The €64,913 investment allowed the company to produce 387 MWh of energy per year, providing its own heat for the hotel and saving €23,150 of energy costs a year compared to the previous heating model. In addition, operations and maintenance were improved and CO2 emissions were reduced due to the shift to alternative energy sources.

The project will be repaid out of savings in less than three years, with future cash-flows becoming company income.

This way, the company decreases its costs, increases its margins and more importantly, becomes energy independent, all leading to increased competitiveness on the market and a stable business.