Aix-en-Provence (France), December 7, 2017. Global EcoPower (Euronext Growth - FR0011289198 - ALGEP) will present its strategy and development plan to the financial community at an investor meeting in the offices of the Société Française des Analystes Financiers (SFAF) today at 11:30 am.: power plant projects in France, international construction sites, project development company.
CONSTRUCTION ACTIVITY IN France
Global EcoPower (GEP) acquired, in December 2016, the SAS MSE Le Haut des Epinettes which held all the rights and authorizations to build and operate a 12.3 MW wind power plant in the department of Aisne.
After the implementation of the senior debt for the project, the construction progressed during the 2017 fiscal year as originally planned. The plant was connected to the ENEDIS electrical grid in late October 2017.
The sale of the shares in MSE Le Haut des Epinettes to the German LHI Group is scheduled for the next few days. LHI has entrusted GEP with the operation of the power plant for a period of 15 years, which will generate recurring revenues for the Group.
GEP is currently analyzing new wind and photovoltaic projects in France and will commit itself when the audits, currently underway, show that these operations create value for the Group and its shareholders.
PROJECT DEVELOPMENT COMPANY IN FRANCE
GEP has decided to develop internally, through its subsidiary GEP-DEVELOPPEMENT, wind and photovoltaic projects in France on behalf of the Group. This development work, begun more than four years ago, is now paying off:
- Aude : Five building permits were obtained in August 2017 and are now clear of all appeals. These permits authorize the construction of an agro-solar complex in Payra-sur-l'Hers including:
- two photovoltaic greenhouses for a total of 6.5 MWp;
- a ground-based photovoltaic power plant for 5 MWp;
- two cogeneration plants of 4.4 MWe each.
GEP has the know-how in the construction of photovoltaic greenhouses. As a reminder, the Group built in 2012 five hectares of photovoltaic greenhouses (Marottières project in the department of Maine et Loire) for an installed capacity of 3.4 MWp.
- Aude : Development of a wind power plant of approximately 30 MW in Payra-sur-l'Hers. Impact studies are currently underway. The building permit is expected to be submitted before the end of the first half of 2018.
- Aude : Development of a wind power plant with about ten turbines. Impact study is currently underway.
- Ardèche : Project of a 6 MWp ground-based photovoltaic power plant. The building permit application is still pending.
In Puerto Rico, GEP had prepared the construction of a ground-based photovoltaic power plant with an installed capacity of 25 MWp on behalf of a US investment fund that secured all the financing for the project. Unfortunately, Hurricane Maria devastated the island of Puerto Rico and halted the start of the construction. At present, the island continues to heal its wounds and electricity has only been restored on 50% of the territory.
The GEP sales team recently returned to the island to assess the situation. The other two PV plants already in operation on the island (10 MWc and 45 MWc) suffered only minor damage, unlike a plant under construction which was almost completely destroyed. The investor has confirmed to GEP his wish to continue this project as soon as the island's situation has stabilized. At the moment, however, it is not yet possible to determine the restart date for this project. GEP will keep up to date on any progress in this matter. As a reminder, the project represents a turnover of around € 40 million for the Group.
In Vietnam, GEP is finalizing a contract with a private Vietnamese group for the turnkey construction of a ground-based photovoltaic power plant with an installed capacity of 19.2 MWp. The construction of this project could start in the first half of 2018.
In Mauritania, GEP was selected in the first round of an international call for tenders to build a 100 MW wind power plant as part of a consortium with the turbine manufacturer Suzlon. Following the opening of tenders in the final phase, the proposal of the GEP/SUZLON consortium was finally rejected.
In Greece, through its subsidiary GEP-Hellas, the group is studying various projects of less than 3 MW each, in order to comply with the new Greek regulations which guarantee an attractive feed-in tariff for power plants with a capacity of less than 3 MW.
In Spain, GEP was about to finalize the acquisition of a 12 MWp photovoltaic project. However, the sellers awarded the project to a competitor who offered a higher price. GEP immediately referred the matter to the court for a compulsory awarding, which is possible under Spanish law according to the progress of the negotiations.
In Serbia, the Group has reached an agreement with developers to acquire a SPV with all the rights and authorizations for the construction of a 44 MW wind power plant. GEP is still awaiting the signing of the power purchase agreement between the SPV and the Serbian authorities.
In Ukraine, GEP signed an agreement with a French company specialized in the development and engineering of renewable energy projects in this country.
In West Africa, GEP plans to build several photovoltaic power plants: in Senegal for five projects of 10 MWp, in Gambia for 40 MWp and in Guinea-Conakry for 50 MWp.
GEP is regularly solicited and numerous other projects are under study.
Global EcoPower is an Aix-en-Provence based company and a “turnkey” constructor of power plants using renewable energies, wind and solar power. GEP is listed on the Euronext Growth Market in Paris (ISIN code: FR0011289198 - mnemo: ALGEP). GEP is eligible for PEA-PME.