EDF Energies nouvelles launches into biofuels

[jean63]

As soon as there is money to be made, they all go there ==>

AOF 12/03/2007 08h47
EDF ENERGIES NOUVELLES is developing in biofuels

(FOA) - EDF Energies Nouvelles has entered into a memorandum of understanding with the Belgian company Alcofinance sa It provides that following a reserved capital increase of 23 million euros, EDF Energies Nouvelles will hold 25% of a newly created company. created and bringing together the ethanol production and distribution activities of the Belgian company Alcofinance. The protocol also provides for the possibility for EDF Energies Nouvelles to increase its stake to 50 within 24 months, under fixed conditions.

This operation will allow EDF Energies Nouvelles to take a position in the biofuels sector and to benefit from the know-how and experience of a European leader in the ethanol market, with a powerful sales and logistics network. It is part of EDF EN's policy to develop in other sectors, alongside its main activity in wind power. It is also in line with its strategy of investing in regulated markets, offering both visibility and profitability.

The final signing of the transaction will take place during the first half of 2007.