GLOBAL ECOPOWER : Global EcoPower completes the financial close of the Vay Marsac wind power plant

information fournie par Actusnews •18/02/2015 à 09:00

Aix-en-Provence (France), February 18, 2015. Global EcoPower (Alternext – FR0011289198 – ALGEP), constructor of power plants using renewable energy sources, announces the signing, through its subsidiary Parc Eolien de La Vallée du Don [1] (PEVD), of a credit agreement of € 12.7 million and a VAT bridge loan of € 1.1 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 50% 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 based on the average rate of government bonds (TME) plus the agreed margin, with a reimbursement of the capital over 60 quarters.

To date, Global EcoPower continues the construction of this wind farm on behalf of PEVD, in the municipalities of Nozay, Vay and Marsac-sur-Don (department of Loire-Atlantique): the earthworks, platforms, reinforcement and pouring of concrete are completed. The Spanish provider, GAMESA, will deliver, install and maintain five G90 wind turbines with a hub height of 100 meters and a unit capacity of 2 MW.

The commissioning of the power plant and its connection to the ERDF grid are scheduled in Q4 2015.

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

« The signing of this first financing demonstrates the confidence of senior lenders and the quality of operations held by the GEP group. The historically low long-term interest rates in France significantly increase the profitability of our projects, financed by more than 80% debt. »

About Global EcoPower
Global EcoPower (GEP) is a French group, a “turnkey” constructor of power plants using renewable energies. GEP is listed on the NYSE Alternext Paris Market of NYSE Euronext (ISIN code: FR0011289198 - mnemo: ALGEP).

Contacts

[1] PEVD is a 100% subsidiary of INVESTEOLE SA, itself 99.98% owned by GEP.