Neochim PLC, leading its history from 1951, is a large producer of fertilizers and chemicals, supplied both to the internal Bulgarian market, as well as to the USA, Brazil, Great Britain, France, Italy, Turkey, Poland, Romania. The company, located 200 km from Sofia, makes continuous efforts to maintain highest business standards, improve the quality of its products, and minimize the impact on the environment.
In line with the corporate objectives, the company decided to improve its steam generation system and in this way to reduce the energy consumption. Neochim applied to BEERECL for the loan and advisory package for this project.
The BEERECL team performed the investment analysis, primarily the potential of energy savings, its technical-financial parameters, as well as the environmental aspects to make sure the company complies with the environmental standards and requirements.
The project consisted of installation of the automated steam production management system.
The €470,902 investment allowed the company to optimize the steam production adjusting it to the needs of individual consumers. In addition, extra steam is supplied to the co-generation unit. This way, the company will produce additional 4,220 MWh of electricity per year and receive the total annual energy cost savings of €208,514.
The project will be repaid out of energy savings in slightly over two years, turning the future cash-flows into the company's income. This project is a good example how automatic control systems allow to align the company's production and consumption, leading to substantial cost and resource savings.