GLOBAL ECO POWER (ex Energeo) : Global EcoPower: accelerating operational development
Driven by the dynamic photovoltaic sector in France and the attractive regulatory framework, Global EcoPower accelerates its operational development. The finalization of various strategic partnerships will allow the group to launch its first achievements this year.
Implementation of the Agreement signed with the Group T- Solar
Pursuant to the agreement signed between Global EcoPower and T- Solar on January 9th 2010, a joint company called T - SEP was created and the two groups have developed and signed a shareholders ' agreement. The objective of this joint venture is to develop and build 120MW installed capacity by the end of 2012. Within the portfolio of Global EcoPower, both parties have already identified several projects which should be operational by the end of 2011.
A Memorandum of Understanding signed with the company Van Der Hoeven
Global EcoPower and Van Der Hoeven, Dutch specialist in the construction of greenhouses for over 50 years, signed as of 20th April 2010, a memorandum of understanding for the joint development in France of an innovative type of photovoltaic greenhouse. A pilot unit was built on the site of the Dutch partner. After validation of the technical solution, Global EcoPower and Van Der Hoeven will create a joint venture, called VDH EcoPower, which will have the exclusivity on the French territory for all projects of photovoltaic greenhouses that both parties will build. This concept allows to keep agricultural vocation of the ground while benefiting from tariff of 42 c€ / kWh for electricity produced on the roof. This incentive price advantageously offsets the extra cost of the greenhouse. There is no doubt that these achievements, subject to different rules of urbanism, will allow relevant development of photovoltaic plants in agricultural areas.
A diversified project portfolio in constant progression
With an attractive framework confirmed by the French Government on January 12th, Global EcoPower has secured new operations and increased its projects portfolio. At the beginning of 2010, the portfolio consisted of 36 projects for an installed capacity of 270 MW; to date, the group works on 43 projects for an installed capacity of 314MW (practically divided equally between ground installations and PV greenhouses). Also, Global EcoPower won two tenders with municipalities in the South of France, Curbans and Saint-Marcel d'Ardèche, for a total installed capacity of approximately 30 MW.
A strategy tailored to its ambitions
Global EcoPower expects:To build part of the projects for its own account, mainly from projects co-developed with T-Solar To sell to institutional investors (insurance companies, specialized funds...) operational turn key projects To sell authorized projects (building permit obtained and free of any recourse from third parties) to utilities willing to enter the attractive photovoltaic French market
About GLOBAL ECOPOWER:
Based in Aix en Provence, listed on the Marché Libre NYSE Euronext Paris and on the Open Market (Freiverkehr) in Francfort, Global EcoPower has been created in 2008 with a seasoned team of successful entrepreneurs in the renewable sector, engineers and project finance professionals. Supported by a strong local lobbying, the company is developing solar power projects in the South of France and covers all development stages leading to electricity production, like land prospecting, signature of leases, technical studies, modeling, financial optimization and project finance, impact studies, grid connection, licensing, panels supply, building organization, piloting and coordination till commissioning, operation and maintenance.
For more informations:
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