Albioma Caraïbes: EUR 68 million Loan signed for converting Coal Power Plant to 100% Biomass

Paris, France – Albioma Le Moule has taken out a new long term loan for its Albioma Caraïbes power plant (34 MW – commissioned in 2011), for EUR 68 million, in addition to the existing debt. This loan will be used to create new infrastructures and modifications to the power plant’s installations, with a view to operating it at 100% biomass as a complete alternative to coal during 2020.

Conveyor Dumping Wood Chips and Biomass in a Pile at a Paper Mill
Stacker conveyors dumping wood chips and biomass on a pile. (Mark Winfrey © 123RF.com)

The the loan (19 years, without recourse to shareholders) will also be used to finance the works required for making the plant comply with the IED directive which comes into force on 1 January 2020. Once these investments have been completed, the Group will be operating two thermal units in the Caribbean area operating solely on biomass. In September 2018, Albioma announced the industrial commissioning of its first overseas 100% bagasse/biomass power plant, Galion 2, located in Martinique. (Source: Albioma)

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