AGO AG Energie + Anlagen: order for second biomass cogeneration plant in Italy

(PresseBox) ( Kulmbach, )
- Construction and operation of the energy center by AGO
- Order value amounting to EUR 13.0 million
- Annual turnover from the operation by AGO energia in the amount of EUR 0.4 million
- Annual turnover amounting up to EUR 5.3 million from PELLEREI AGO ENERGIA feeding electricity into the public grid

AGO AG Energie + Anlagen (cusip number: A0LR41 / ISIN: DE000A0LR415) was awarded a further order for a biomass cogeneration plant in Italy. The order value for the construction of an energy center with an electrical output of 2.8 MW and a thermal output of 6 MW amounts to EUR 13.0 million. During the opening event on 17 October 2009 which was attended by Claudio Corradino (Mayor of Cossato), Roberto Simonetti (President of the Province of Biella) as well as Gilberto Pichetto (Senator of the Republic) details on the construction were anncounced. Since all permits including the permit for feeding electricity into the public grid have already been issued by the Italian legislature the construction of the plant can start right away.

AGO energia S.r.l., a 55 percent subsidiary of AGO AG Energie + Anlagen, is gaining annual sales revenues from operating the energy center in the amount of about EUR 0.4 million - within the 15 year contract period that totals about EUR 6.0 million.

The employer for the energy center in the region between Turin and Milan is PELLEREI AGO ENERGIA Società Agricola S.r.l. in which AGO AG Energie + Anlagen holds about a third of the shares. From the biomass cogeneration plant's feeding electricity into the public grid, the company is expecting an annual turnover in the amount of up to EUR 5.3 million. PELLEREI AGO ENERGIA owns a 74 hectare plantation for fast-growing wood. The operative field of activity of this energy forest is the production of fast-growing trees, such as cottonwood, which are used for firing the biomass cogeneration plant.

"The strategic development of AGO AG Energie + Anlagen from a plant constructor to a plant engineer with the operative focus on plant operation and raw material management - in addition to plant construction - is made clear by our second biomass cogeneration plant in Italy. Apart from plant operation and the participation in the remuneration for feeding electricity into the public grid, we are ensuring a long-term delivery of high-quality regenerative fuel by holding shares in PELLEREI AGO ENERGIA. Numerous discussions with local politicians in Italy emphasize the economical and ecological interest in regenerative energy solutions and the trust in the technology used by the AGO group. We are currently having a number of potential conversations aiming at the extension of our activities in Italy and the thus progressing internationalization in our core markets, says Hans Ulrich Gruber, speaker of the Board of AGO AG Energie + Anlagen.
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