FORBACH, France--(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.
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.PA
Bloomberg 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