ALBIOMA : Albioma Caraïbes: 68 million euros loan signed for converting the power plant to 100% biomass (pdf)

Press release Paris La Défense, 13 March 2019 Albioma Caraïbes: 68 million euros loan signed for converting the power plant to 100% biomassAlbioma Le Moule has taken out a new long term loan (19 years, without recourse to shareholders) for its Albioma Caraïbes power plant (34 MW -...

London, 13/03/2019 (informazione.news - comunicati stampa - energia)

Paris La Défense, 13 March 2019

Albioma Le Moule has taken out a new long term loan (19 years, without recourse to shareholders) for its Albioma Caraïbes power plant (34 MW - commissioned in 2011), for 68 million euros, in addition to the existing debt. This loan will be used to create new infrastructures and modifications to the power plant's installations, with a view to operating it at 100% biomass as a complete alternative to coal during 2020. The sum will also be used to finance the works required for making the plant comply with the IED directive which comes into force on 1 January 2020.

The transaction has been arranged with the company's regular banks: BNP Paribas and CIC, as co-arrangers, and Bpifrance, under very attractive market conditions.

Once these investments have been completed, the Group will be operating two thermal units in the Caribbean area operating solely on biomass. In September 2018, Albioma announced the industrial commissioning of its first overseas 100% bagasse/biomass power plant, Galion 2, located in Martinique.

Next on the agenda: revenue figures for the first quarter of the 2019 financial year, on 24 April 2019 (before trading).