La Française de l’Energie: First 9MW of Gas to Green Power Production Onstream in Northern France
30 Juin 2017 - 08:15AM
Business Wire
Regulatory News:
La Française de l’Energie (Paris:LFDE)(Euronext : LFDE -
ISIN: FR0013030152), the largest clean gas producer in France, is
pleased to announce that 9MW of gas to green power are now
producing on 4 sites in Northern France.
An exemplary development
6 gas engines are now producing green power in Northern France,
on four sites in Lens, Lourches, Avion and Divion for a total
installed capacity of 9 MW. This electricity production is sold
under a 15 years feed in tariff guaranteeing LFDE recurring
revenues of €4 million per annum.
Less than 8 months after the gazetting of the feed in tariff for
the green electricity produced from the gas captured in the former
coal mine, LFDE managed to bring onstream 4 green power producing
units when most of the green energy projects take years to get into
production.
LFDE also managed to deliver this project under budget reducing
total cost by 20% compared to the initial €9 million budget. These
achievements demonstrate the operational know-how of the LFDE team
to deliver innovative energy solutions in France.
Accelerated growth
Following this initial succes, LFDE continues its development in
Northern France. Twenty additional sites have already been
identified and are currently being evaluated to foster LFDE’s
targeted growth and cash generation.
The implementation of this gas to green power activity confirms
the innovative positioning of LFDE that produce an ecologically and
economically competitive energy at the heart of Europe. Indeed
LFDE’s activity avoids 250 000 tons of CO2 emissions per annum
thanks to the capturing of the gas to the atmosphere in Northern
France while its Lorraine gas has a carbon footprint 10 times lower
than the gas currently imported to France.
With over 4 700 km2 of exploration and production permits in
place, La Française de l’Energie enjoys a significant growth
potential and has key assets to monetise locally the gas coming
from the local coals in Moselle and Pas-de-Calais.
Next investor communication: Annual revenues, 5th of July
2017 (post closing)
Reuters code: LFDE.PABloomberg code: LFDE.FP
About La Française de l’Energie
La Française de l’Energie is a SME headquartered in Lorraine,
leader in industrial ecology, specialised in gas recovery in the
former coal mining basins of North and Eastern France. La Francaise
de l’Energie provides gas, green electricity and heat to regional
consumers, replacing imported energy with a cleaner local
alternative. La Française de l'Energie benefits from a strong
growth potential and aims to become a major energy player in
Europe. The company has also been awarded the innovative enterprise
label from Bpifrance.
More information on: www.francaisedelenergie.fr
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