AGO AG Energie + Anlagen is awarded a contract for a biomass cogeneration plant in Italy

(PresseBox) ( Kulmbach, )
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- Investment volume amounts to approx. EUR 7.0 million
- Annual revenue of EUR 2.5 million for special purpose entity
- Operational perspective in Italy: four further biomass cogenerations plants in 2011

AGO AG Energie + Anlagen (cusip number: A0LR41, ISIN: DE000A0LR415) was awarded a further contract for the construction and operation of a biomass cogeneration plant in Italy. The investment volume for the construction of the energy center situated in Santa Luce, Tuscany, amounts to approximately EUR 7.0 million. The construction permit was obtained in the beginning of August 2010, which indicates that construction is very likely to start this year. The biomass cogeneration plant’s turnover from supplying heat and feeding electricity into the public grid annually amounts to about EUR 2.5 million. Within the 15 year contract period, about EUR 37.5 million of sales revenues will be generated.

The new biomass cogeneration plant in the Italian region of Tuscany will be furnished with a combustion capacity of 5.95 MW and an electric capacity of 0.99 MW. The plant will be fired with wood chips from the province of Pisa.

„Within one year, we managed to obtain the construction permit for the biomass cogeneration plant in Santa Luce. So there are currently two projects being implemented in Italy. We are still having numerous discussions with potential industrial clients and Italian local politicians are still highly interested in ecological and economical regenerative energy solutions made by AGO. For the year 2011 we are currently expecting four more biomass cogeneration plants to come“, says Hans Ulrich Gruber, speaker of the Board of AGO AG Energie + Anlagen.
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