GLOBAL ECOPOWER : Global EcoPower completes the financing of the Seuil Mont Laurent wind power plant

information fournie par Actusnews •10/08/2015 à 08:00

Aix-en-Provence (France), August 10, 2015. Global EcoPower (Alternext – FR0011289198 – ALGEP), constructor of power plants using renewable energy sources, announces the signing, through its subsidiary Parc Eolien de Seuil Mont Laurent [1] (PESML), of a credit agreement of € 12.7 million and a VAT bridge loan of € 2.59 million, allowing the financing of its 10 MW wind farm.

The lending banking pool is led by Triodos Bank, a bank under Dutch law, which syndicated 30% of the credit with Bpifrance Financement. The VAT bridge loan was contracted with Bpifrance Financement.

This is a project financing for a period of 15 years, without recourse to GEP, based on the future cash flows to be generated by the wind farm. The interest on the loan will be calculated on a variable rate basis until the commissioning of the power plant. At that date, the variable rate will be converted into a fixed rate, already agreed to a level below 3% per year.

Global EcoPower will build “turnkey” this wind power plant on behalf of PESML in the municipalities of Seuil and Mont-Laurent (department of Ardennes, France).

The commissioning of the power plant and its connection to the ERDF grid are scheduled for mid-2016.

Philippe Perret, Executive Vice President of Global EcoPower, declares :

“ The signing of this new financing demonstrates the renewed confidence of senior lenders and the quality of operations held by the GEP group. We took advantage of the historically low long-term interest rates in France to freeze our fixed rate over 15 years.”

About Global EcoPower (GEP)
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 NYSE Alternext Paris Market of NYSE Euronext (ISIN code: FR0011289198 - mnemo: ALGEP). GEP is eligible for PEA-PME.

Contacts

[1] PESML is a 60% subsidiary of GEP.