ALBIOMA : signing of second rider to EDF contract
Post# of 301275
Compensation for the costs of bringing the liquid and gaseous waste processing systems into compliance with current standards
Raising on favourable terms of bank finance totalling €144 million
On 23 December 2016, the Albioma Bois-Rouge power plant on Reunion island signed a second rider to its power purchase agreement with EDF following approval from the French Energy Regulatory Commission ( Commission de Régulation de l'Énergie - CRE) (decision dated 30 November 2016).
The rider provides for the plant's remuneration to be increased to take into account the costs of bringing into compliance with current standards the systems for processing liquid waste from the ABR 2 unit (European Integrated Pollution Prevention and Control (IPPC) Directive) and emissions from the ABR 1 unit (European Industrial Emissions Directive - IED).
At the same time, Albioma Bois-Rouge raised a €144 million long-term bank loan on favourable terms to finance the capital expenditure required to bring its emissions treatment systems into compliance with current standards and to refinance all of its existing debt. Drawings under this loan will take place between 2017 and 2019, as construction of new equipment progresses.
Next on the agenda: annual results for the 2016 financial year, on 1 st March 2017 (before trading).
About Albioma
Albioma is an independent energy producer and world leader in the conversion of biomass into a highly-effective source of energy, in collaboration with its agri-business partners. For more than 20 years, Albioma has operated power plants recovering bagasse, a fibrous by-product of sugar cane, replaced by coal outside the sugar cane harvest. Its unique expertise has enabled Albioma to establish itself as an indispensable partner in the sugar and ethanol industry in the French overseas territories and Mauritius. Albioma is now developing power plants using only biomass, which recover, in addition to bagasse, green waste and wood industry residue. The Group also operates a highly-efficient photovoltaic installation and agricultural anaerobic digestion units. In 2014, the Group, which already had a presence in mainland France, the French overseas territories and Mauritius, began operating in Brazil, the world's leading sugar cane producer.
For further information, please visit www.albioma.com
Investor contacts
Julien Gauthier julien.gauthier@albioma.com +33 (0)1 47 76 67 00
Media contacts - LPM Strategic Communications
Luc Perinet-Marquet lperinet@lpm-corporate.com +33 (0)1 44 50 40 35
Albioma shares are listed on Euronext Paris (sub B) and eligible for the deferred settlement service (SRD) and PEA-PME plans.
ISIN FR0000060402 - Ticker: ABIO
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