Albioma : Industrial Commissioning Of 100% Bagasse/Biomass Plant, Galion 2, In Martinique

Industrial commissioning of the 100% bagasse/biomass plant, Galion 2, in Martinique

(GlobeNewswire) - Albioma announces the industrial commissioning on 26 September 2018 of its 100% bagasse/biomass plant, Galion 2, in Martinique. The tests at the plant began in January 2018; it was able to provide the Galion sugar refinery with the steam that it needed during the sugar campaign and compliance tests with the EDF standard were carried out during the summer. The validation of the results of this last stage enables the launch of the contract concluded with EDF for a period of 30 years.

Due to the extension of the commissioning schedule, the investment of the project amounts to €210 million.

Galion 2 has become the first 100 % bagasse/biomass plant in the French overseas departments

Dedicated to the production of renewable energy, this plant, with an installed capacity of 40 MW, will supply electricity for Martinique's electricity grid all year round, from the combustion of bagasse, a fibrous residue of sugar cane, other local forms of biomass of plant origin and wood residues from sustainably managed forests.

A unique partnership with the sugar industry developed for more than 20 years and a strong local impact

Galion 2 will also supply steam to supply the Galion sugar refinery, Albioma's historic partner, as part of a virtuous exchange. Like all the Group's thermal plants located in Overseas France, Mauritius and Brazil, Galion 2 combines state-of-the-art technology and innovation by implementing the principle of circular economy: the power plant provides the site's sugar refinery with a solution that improves its energy supply by optimising the recovery of sugar cane residue, bagasse.

More generally, Galion 2 allows the creation of more than 40 direct jobs and contributes to sustaining the agricultural, economic, industrial and social fabric of Martinique.

A power plant supporting the energy transition
The Galion 2 plant will triple renewable electricity production on the island (from 7% to 22%) and will contribute to the shift towards a lower-carbon energy mix in Martinique, in compliance with the strictest environmental standards.

In the current context of energy transition, the solutions offered by Albioma for the production of stable and renewable energy, from biomass, make it possible to guarantee the stability of the power grids and thus increase the share of intermittent energy sources such as solar power, particularly in isolated areas where the network is fragile.

Next on the agenda: revenue figures for the third quarter of the 2018 financial year, on 25 October 2018 (before trading).

About Albioma
An independent renewable energy producer, Albioma is committed to the energy transition thanks to biomass and photovoltaics.

The Group, which is established in Overseas France, Mauritius and Brazil, has developed a unique partnership for 20 years with the sugar industry, to produce renewable energy from bagasse, a fibrous residue from sugar cane.

Albioma is also the leading generator of photovoltaic power overseas where it constructs and operates innovative projects with integrated storage capabilities.

Albioma shares are listed on NYSE EURONEXT PARIS (sub B) and eligible for the deferred settlement service (SRD) and PEA-PME plans (ISIN FR0000060402 - ticker: ABIO).

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