(Boursier.com) — Albioma rose 1.7% to 35 euros on Tuesday, as the group finalized the takeover of the geothermal power plant Turcas Kuyucak Jeotermal Elektrik Üretim, in Turkey, by becoming its sole shareholder. On December 21, 2021, the Group announced that it had entered into exclusive negotiations with Turcas Petrol 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, made it possible to finalize the transaction.
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. This 18 MW gross plant was commissioned at the end of 2017 and is based on an operating license expiring on the horizon of 2042 (with the possibility of extension for a period of 10 additional years). It produces electricity from 5 production wells for net exported production at the end of 2021 of 83 GWh. Until the end of 2022, the plant benefits from a dollarized purchase obligation tariff of approximately 118 USD/MWh (Feed-in tariff) and a tariff of 105 USD/MWh between 2023 and 2027.
“Second acquisition for Albioma in two years in Turkish geothermal energy. Geothermal energy, like CSR or new projects in the overseas departments or Brazil, is one of Albioma’s medium-term growth drivers” comments Portzamparc for whom the development in geothermal energy “makes sense” in view of the similarities with the operation of biomass power plants… Verdict: “Strengthen” by aiming for a course of 41 euros.
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