Kiril Beleliev is the Director of Supplies and Sales and a member of the Board of Directors of AmonRa Energy AD. He has been working at AmonRa Energy since its inception in 2020, working through all units of the company.
Responsible for communication and commercial relations with international manufacturers from the so-called first pillar of solar energy, which AmonRa Energy represents in Bulgaria, including the world’s largest inverter manufacturer SunGrow Energy and the only photovoltaic panel manufacturer listed on the Nasdaq high-tech exchange – Canadian Solar.
Mr. Beleliev, AmonRa Energy is the first photovoltaic company on the Bulgarian Stock Exchange. How is the company developing, what are your most important achievements?
Since November 2022, AmonRa Energy has been a public company with over 100 shareholders. We have representative offices in Bulgaria, Romania, Macedonia, Albania, Serbia, Ukraine and Turkey. In Romania, at the end of 2023, we acquired a local company, which now operates under the name AmonRa Energy Romania.
Over the past year, we have improved our warehouse and logistics capacity. We cover all cities in Bulgaria. We have increased the solar system components we offer and shortened the delivery time. The number of clients we provide equipment for “from today to tomorrow” has doubled. Every month we add new products to our portfolio, including niche and boutique ones.
We are the first on the Bulgarian market to offer inverters of world brands, such as Sunwoda, Deye, SAJ, Solinteg, Pylontech, at good prices, as well as storage batteries for households, industry, and large electricity retailers.
There is currently a huge interest in batteries due to new European-funded programs. Tell us more about them.
In 2023, we began offering various high-voltage batteries to global manufacturers from the so-called first pillar of solar energy according to the Bloomberg New Energy Finance ranking. Their quality is uncompromising. We also have our own battery developments.
Industrial batteries, generally speaking, are of two types. One is for large megawatt power plants, built on land in a solar park. They are entirely for sale and serve to balance energy production. The other is in workshops and enterprises, most often on rooftops.
However, both types of batteries are not, as most people would like, plug and play. They must be impeccably designed. The supplier must have professionals, designers, engineers “on hand” to design and install high-quality, safe and long-term industrial batteries.
Choosing batteries is not a simple matter. Many companies offer batteries, but they do not have the established structure of professionals. The chance that a specialist in Varna will solve a case with a battery in Vidin is very small. While we can offer installers, designers, project managers for every point in Bulgaria. Yes, solar equipment has become cheaper in terms of cost. But more important is to identify the need for a battery and on this basis to select a good solution with quality equipment.
With industrial batteries, another big problem – once a solution that makes financial sense is proposed and a project is made – is to put it into operation and maintain it. For example, in Romania we work with over 150 external installation companies, and in Bulgaria – with over 800. Twice a month we train them on the correct installation and operation of the equipment.
What else, besides the correct selection of storage batteries, should a company pay attention to when choosing a photovoltaic equipment supplier?
The possibilities for solar business are unlimited. However, in our opinion, it is best to invest in rooftop power plants, to seek solutions for your own business and its energy supply.
There are companies that offer the component that can be easily delivered, regardless of whether it is exactly what the client needs. And the need should first be analyzed, different technical solutions should be proposed, a project should be made and only then delivery. Therefore, it is important to choose a supplier that has an assortment and can offer several solutions.
Often, panels are offered that are not suitable for the specific roof, but they are simply in stock. After two or three years, however, these panels “fly away”. Rooftop solar systems or battery power plants are built, where it is obvious to the naked eye that the designer’s or installer’s decision was misleading and did not meet the real needs of the client. Last year, for example, with low average winds for Bulgaria, there were quite a few power plants where the panels were “thrown away”. The reason? The construction was not properly selected and large panels were used, with over 2 sq. m. of area.
We have managed to partially overcome the practice of installing large and powerful panels in Bulgaria. We are trying to impose the German standard – small panels, up to 2 sq.m. area, 420 and 460 watts, bi-facial or double glass. This standard is used not only in Germany, but also in many other countries.
What is the reason for imposing this particular standard on panels?
When the panels are small, the roof area can be better distributed and their fastening is easier. A power plant has more attachment points for smaller panels than for larger ones.
Bi-facial and double-glazed panels have other advantages. Bi-facial panels produce between 5 and 7% more energy under optimal conditions. The panels have a flammability and flammability class. When a panel has glass on the back, it has a lower flammability class (foil burns easily, glass – difficultly). If you install bi-facial or double glass panels, you reduce the risk of fires in the system and increase the class of the certificate that both the roof plant and the building can receive. With insurance, the investor will also give you better conditions. Also, these panels have a longer shelf life, they last longer over time.
In the latest report by Bloomberg New Energy Finance, over 30 companies dropped from the list of manufacturers from the so-called first pillar of solar energy. Last year there were 50, now there are only 20. The global manufacturers that dropped out either did not offer bi-facial panels, or offered them, but with compromised quality. Popular brands in Bulgaria, such as ULICA Solar and DAH Solar, are also no longer in Bloomberg’s prestigious ranking.
And what about electric vehicle charging stations? Are you seeing growth in this segment?
Charging stations for electric vehicles are growing, although still small. There are mainly two reasons. First, there are few designers and installers who can finalize a working solution for charging stations. There are also relatively few models on the market. Second, there are already disappointed investors – equipment with poor-quality hardware has been chosen. And every negative review affects demand.
It is not important that a charging station simply works. It is important that it charges the battery in an optimal way for the vehicle. Charging stations with low technical parameters, with low amperage, are not a good solution.
Last year we mainly sold AC charging stations for households. Recently we have also started offering DC fast charging stations for small and medium businesses. They charge electric vehicles in minutes, depending, of course, on the vehicle and the battery chosen. There is interest in these solutions from companies in the new complexes that are being built, where the stations will be for public use. There is also interest from private individuals, for personal use.
You had plans for a new logistics base in Bulgaria. At what stage are you at?
We are currently making deliveries of photovoltaic systems from a rented warehouse in Shumen. We are also investing in our own base there. We chose Shumen for investment because it is a city with prospects. It is close to international and intercity roads, to the largest ports and airports. With one of our partner companies, we purchased a plot of land of 10,000 sq.m. in the Shumen Industrial Park. We are currently at the design stage. We hope to start construction in the middle of this year. Our new base in Shumen will also be used as a logistics center to meet the needs of the developing industry in Northeastern and Central Bulgaria.
What are your expectations for the performance of AmonRa Energy AD by the end of the year?
AmonRa Energy is developing well. By the middle of the year, we expect to have a solar project in every major city in Bulgaria in which we have participated. We hope that the growth will continue and that we will be able to distribute a dividend again. In 2023, we distributed 80% of the company’s net profit to shareholders.
“AmonRa Energy” AD is one of the established suppliers of photovoltaic modules, inverters and solar system structures in the Balkans. It offers domestic clients and installers over 200 different products of premium global manufacturers of photovoltaic systems. The company is a logical extension of the activities of “Central Energy Repair Base” EAD – an enterprise with 75 years of experience in the energy sector. AmonRa Energy also has a subsidiary that specializes in installations. The focus is on small and medium-sized projects up to 5 megawatts – for houses, industrial buildings, shopping centers, and enterprises.
