ALCOFINANCE, Brussels, the sister company of ALCOTRA, Geneva, signed a preliminary agreement with EDF (ELECTRICITE DE FRANCE) Energies Nouvelles for a long term strategic partnership in bio-fuels.
After having sold to CONSTELLATION BRANDS, USA its vodka “SVEDKA” prime brand for $us 384 MILLIONS, Alcofinance, the Belgian based sister company of ALCOTRA, Geneva has signed a preliminary agreement with EDF (ELECTRICITE DE FRANCE) Energies Nouvelles.
Under this agreement EDF EN will own 25% of the newly formed company ALCOGROUP and has the option to raise its participation to 50% within 24 months subject to pre-agreed conditions.
This transaction will EDF EN to move into the bio-fuel segment and to capitalize on the know-how and experience of a global Ethanol leader with a powerful sales and logistics network.
EDF EN has identified bio-fuels as a source of growth harboring synergies with biomass power.
EDF EN will thus cover all bio-energy segments, i.e. electricity generation, heat production and bio-fuels.
This partnership opens up bright prospects in second-generation bio-fuels, which are highly efficient from an environmental perspective and should enable ALCOGROUP to lay the foundations for it to pursue major ambitions in this segment. The agreement also provides for a research and development partnership with the EDF -ELECTRICITE DE FRANCE- Group.
The construction of an initial ethanol fuel manufacturing facility in Gent, Belgium will represent the first concrete achievement under this partnership. This project, which is being developed by Alco Bio Fuel with a production capacity of 40 MILLIONS GALLONS p.a., will qualify for a tax exemption under the Belgian quota system covering a volume of 25 MILLIONS. The plant is expected to go on stream in 2008.
The final agreement is due to be signed during the first half of 2007.
About EDF Energies Nouvelles
Founded in 1990, EDF Energies Nouvelles is a world-class player in the green electricity generation market. With a presence in 9 European countries and in the United States, EDF Energies Nouvelles operates in four renewable energy segments (wind, hydro, biomass and solar). Wind energy currently accounts for nearly 80% of its installed capacity.
With its unique profile as an integrated operator, EDF Energies Nouvelles has a presence spanning the entire value chain, from development and construction through to production and operations & maintenance. The Group also pursues the development and sale of structured assets, which consists primarily in selling renewable energy generating assets to individuals or to energy services companies. EDF Energies Nouvelles is a 50%-owned subsidiary of the EDF (ELECTRICITE DE FRANCE) group. Since 28 November 2006, EDF Energies Nouvelles has been listed in Compartment A of Euro list by Euro next Paris (code: EEN, ISIN code: FR0010400143).
www.edf-energies-nouvelles.com
About Alcofinance
Alcofinance, Alcogroup’s top holding company, is the European leader in ethanol distribution with its volume of around 100 MILLIONS GALLONS with market share of 15%. Together with Swiss company ALCOTRA, ALCOGROUP distributes worldwide over 250 MILLIONS GALLONS of ethanol for food, industrial, cosmetic and biofuel applications. ALCOGROUP, which already owns production activities in South Africa and Mauritius, is also building a bioethanol facility in Gent and has several plans to set up ethanol plants in Eastern Europe, Africa, South and Central America. In 2006, Alcofinance posted sales of €272 million and had around 200 employees.
About Alcotra
The company directly supplies the major ethanol end-users in the US and the Far East. In Europe Alcotra works in partnership with Alcofinance. With global sales volume exceeding 250 MILLIONS GALLONS of ethanol ALCOTRA is the leader in ethanol global trading. Seventy per cent of ethanol volume traded by Alcotra is sourced from Brazil.
www.alcotra.ch
Rodolphe Meeus
Alcotra S.A.
Office: +32 2 663 0484
Fax: +32 2 665 71 91
Mobile: +32 475 37 30 40
Email:rodolphe.meeus@alcogroup.com
website:www.alcotra.ch
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