FORBACH, France--(BUSINESS WIRE)--Regulatory News:
La Francaise de L’Energie (Paris:LFDE) (Euronext: LFDE - ISIN: FR0013030152), leader in industrial ecology, obtained the extension until October 2022 of its exclusive exploration license (PER) on the Valenciennois area, located in Northern France (Hauts-de-France Region).
This permit confers to its Gazonor subsidiary the exclusive rights to the gas present in the former mining galleries of the eastern part of the basin.
The Group thus confirms its operating monopoly over the entire Hauts-de-France mining basin.
La Française de l’Energie already produces green electricity on 4 sites (9 MW of installed capacity) and gas on 1 site. All the production comes from methane captured in the abandoned mines to avoid its release into the atmosphere.
These sites avoid more than 602,000 tons of CO2eq emissions per year and generate, for the electricity production, over € 5 million of annual revenues secured via a15 years feed in tariff with the French State
To continue its developments, in early July, Gazonor started a series of additional reservoir and production tests on several existing wells in the Valenciennois area with the objective of measuring and validating the production potential of the gas present in the mining galleries of this area.
These tests will confirm the number of additional green electricity production sites that can be installed in this area and will allow for an increase of the Group's certified gas volumes.
Gazonor is still awaiting the green light from the French administration for the use of the other existing wells held by the State, on its concessions Poissonnière and Désirée, in order to set up its next production sites on the mining basin of Hauts-de-France.
The Group confirms its objective to accelerate the recovery of its 9.2 billion m3 of gas reserves certified in the Hauts-de-France and its ambition to install by 2021 nearly 30 MW dedicated to the production of green electricity in the region.
Annual results 2018/2019 and Q1 2019/2020 revenues – 16 October 2019
Reuters code: LFDE.PA
Bloomberg code: LFDE.FP
About La Française de l’Énergie
La Française de l'Energie is a Lorraine SME, leader in industrial ecology, specializing in producing the gas present directly in the coal and in the former coal mines of France and Belgium. Thanks to its recognised know-how in geology and engineering combined to its local positioning, La Française de l'Energie supplies gas, green electricity and heat to regional players, replacing imported energy by energy local and cleaner energy. La Française de l'Energie is on a significant growth path and aims to become a major player in the energy sector in Europe. The company is labelled as a young innovative company by Bpifrance.
More information available on www.francaisedelenergie.fr
This press release contains certain forward - looking statements and estimates concerning LFDE’s financial condition, operating results, strategy, projects and future performance and the markets in which it operates. Such forward-looking statements and estimates may be identified by words such as “anticipate,” “believe,” “can,” “could,” “estimate,” “expect,” “intend,” “is designed to,” “may,” “might,” “plan,” “potential,” “predict,” “objective,” “should,” or the negative of these and similar expressions. They incorporate all topics that are not historical facts. Forward looking statements, forecasts and estimates are based on management’s current assumptions and assessment of risks, uncertainties and other factors, known and unknown, which were deemed to be reasonable at the time they were made but which may turn out to be incorrect. Events and outcomes are difficult to predict and depend on factors beyond the company’s control. Consequently, the actual results, financial condition, performances and/or achievements of LFDE or of the industry may turn out to differ materially from the future results, performances or achievements expressed or implied by these statements, forecasts and estimates. Owing to these uncertainties, no representation is made as to the correctness or fairness of these forward-looking statements, forecasts and estimates. Furthermore, forward-looking statements, forecasts and estimates speak only as of the date on which they are made, and LFDE undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise, except as required by law.