Albioma : Albioma acquires a new geothermal power plant in Turkey
Press release
Paris La Défense, February 14, 2022
Albioma acquires a new geothermal power plant in Turkey
Albioma, independent producer of renewable energy, finalizes today the acquisition of the geothermal power plant Turcas Kuyucak Jeotermal Elektrik Üretim A.Ş. (renamed Albioma Kuyucak Jeotermal Elektrik Uretim A.Ş.), in Turkey, by becoming its sole shareholder.
On December 21, 2021, the Group announced that it had entered into exclusive negotiations with Turcas Petrol A.Ş. for the acquisition of a second geothermal power plant in Turkey, located in the province of Aydin. The favorable opinion of the Turkish competition authorities, obtained on February 3, 2022, allows the transaction to be finalized.
The acquisition of this plant confirms Albioma’s entry into the geothermal business, with high technical added value, complementary to its historical biomass and solar businesses.
Competitive and local, geothermal energy is a renewable energy source available 24 hours a day, 7 days a week, transforming the heat coming from the subsoil for the production of electricity. Like biomass, geothermal energy is a controllable source of electricity, which contributes to the security of electrical networks.
The Group’s second geothermal power plant in Turkey
With more than 1600 MW of installed power, Turkey ranks fourth in the world for geothermal production and has strong development potential. Albioma has been established in Turkey since January 2021.
The Albioma Kuyucak power plant Jeotermal Elektrik Üretim A.Ş. (18 MW gross) was commissioned at the end of 2017 and is based on an operating license expiring in 2042 (with the possibility of extension for a period of 10 additional years). It produces electricity from 5 production wells for a net exported production at the end of 2021 of 83 GWh.
Until the end of 2022, the power plant benefits from a dollarized purchase obligation tariff of approximately 118 USD/MWh (Feed-in tariff) and for 5 years between 2023-2027 is 105 USD/MWh.
Frédéric Moyne, Chairman and CEO of Albioma said: “We warmly welcome the Turcas teams to Albioma. This new operation allows the Group to strengthen its presence on the geothermal market and to continue to improve its skills in this new business. We are gradually building up a platform of quality industrial assets. We will benefit from the synergies between the neighboring plants of Gümüskoÿ and Kuyucak and will be able to capitalize on the know-how of our teams to deploy it in new geographies. The complementarity of renewable energies is essential to favorably develop the energy mix. Our Group is maintaining its objective of nearly 100% renewable energy by 2030.”
Next meeting: annual results for the 2021 financial year, March 2, 2022 (before market).
| About Albioma | contacts |
| An independent renewable energy producer, Albioma is committed to the energy transition through biomass and photovoltaics. The Group is present in the French Overseas Territories, in Metropolitan France, in Mauritius and in Brazil. For 25 years, it has developed a unique partnership with the sugar industry to produce renewable energy from bagasse, the fibrous residue of sugar cane. Albioma is also the leading producer of photovoltaic energy in Overseas France, where it builds and operates innovative projects with storage. Albioma has recently strengthened its position in mainland France. | Investors Julien Gauthier +33 (0)1 47 76 67 00 Media |
| Albioma shares are listed on NYSE EURONEXT PARIS (compartment B) and eligible for SRD and PEA-PME (ISIN FR0000060402 – Mnemo ABIO). The Group is also included in the Gaïa-Index, the index of responsible average values. | www.albioma.com
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