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GREENALIA GETS AWARDED 50 MW AT THE LAST RENEWABLE ENERGY NATIONAL BIDDING

In the “Official State Gazette” dated today, March 28, 2016, the Resolution of March 17, 2016 from the Directorate-General for Energy Policy and Mines has been published, by which the successful awarded applications to the specific remuneration scheme get pre-allocated registered in the register, being GREENALIA, through its subsidiary GREENALIA POWER, awarded 49,913 biomass-based MW.

Deadline for projects starting is 4 years since this publishing, ending on March 27, 2020. The company holds currently four authorizations in north-western Spain, while it studies different alternatives to develop these MW in an optimal location from an environmental and economic standpoint. The project requires an investment of +100M €, generating 40 direct jobs and more than 500 indirect jobs, allowing GREENALIA a vertical integration of its processes, from biomass production in the forest to the energy sale to the power grid; this will provide the company recurring revenues of over 900 M€ over the next 25 years, time span established by the Government to remunerate this technology. Hundred percent of the biomass used as fuel in the plant will be obtained as FSC/PEFC- certified, avoiding the emission of 107,000 tons of CO2 into the environment, while generating enough energy to supply 250,000 inhabitants.