(Boursier.com) — Waga Energy fell 3.5% to 15.3 euros despite the announcement of the commissioning of the biomethane production unit at the Bath waste storage site, in the state from New York. It will inject 60 GWh of renewable gas per year into the distribution network of local operator Corning Natural Gas, representing the consumption of around 4,000 homes. This is the first operational WAGABOX in the United States.
Portzamparc estimates the contribution of this WAGABOX at more than 4 ME in a full year. 14 units are under construction in France, Canada and the United States. The brokerage house emphasizes that the American units are generally larger and will strongly contribute to the group’s growth in the future. The weakness of the stock since the start of the year (-38%), penalized by uncertainties over the financing of this development, does not reflect the quality of the fundamentals and prospects, affirms the broker, for ‘purchase’ on the value.
For Bryan Garnier, this is a significant step forward for the group in the deployment of its technology in North America, particularly in the United States, paving the way for future acceleration in the allocation of gas rights. Waga Energy consistently delivers results, both in terms of pipeline investments and project execution, with high-profile partners, and maintains a strong competitive advantage while benefiting from the energy sovereignty trend and thirst growing number of green molecules, underlines the analyst, also a ‘buy’ on the file.
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