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Voltalia SA — Earnings Release 2016
Oct 11, 2016
1759_iss_2016-10-11_ae0196a5-2e75-49c5-92cd-e66b1def419f.pdf
Earnings Release
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Press release 11 October 2016
Continued expansion of the Serra Branca cluster: Vila Acre (27 MW): start of construction works Vila Para (99 MW): 32 turbines out of 33 completed
Voltalia (Euronext Paris, ISIN code: FR0011995588), an international renewable energies company, takes another step forward on its Brazilian roadmap with the start of construction of the Vila Acre wind farm, while 97% of the Vila Para wind farm is already in production.
Start of construction at the Vila Acre power plant
Voltalia announces the start of the construction works on the Vila Acre wind power plant in Brazil. Totalling a 27 MW installed capacity, the plant will be equipped with Gamesa turbines1 . For this construction site, Voltalia has resorted to local partners: the SIMM company for other electrical works and the Mercurius group for civil engineering. The power plant will benefit from the Serra Branca cluster's transmission line, which has been in operation since built by Voltalia in 2014.
The Vila Acre power plant is expected to be commissioned in Q3 2017, more than a year before the 20-year electricity sales contract takes effect 1 . In the meantime, between the commissioning and the start of the longterm electricity sales contract in November 2018, Voltalia will sell the electricity at the same price as the one specified in the long-term sales contract.
Commissioning of the Vila Para power plant
Voltalia announces the early commissioning of 32 turbines (96 MW) out of a total of 33 turbines (99 MW) at the Vila Para power plant. The last turbine is expected to be commissioned very soon. Voltalia therefore confirms that it is ahead of its schedule since the initial commissioning date was in Q4 20162 .
After the first 15 turbines (45MW) started producing electricity in July and August3 , 17 additional ones have been gradually commissioned since 1st September.
Since July, the electricity production has been sold on the free market at average prices higher than those specified in the long-term electricity sale contracts4 .
1 Press release dated 21 July 2016
2 Press release dated 15 July 2015
3 Press release dated 1st September 2016
4 The spot price per MWh rose from 107 Brazilian reals in July 2016 to 217 Reals today. Source: CCEE
Until the long-term electricity sale contracts take effect in November 2018, the Vila Para production will be sold on the free market, mainly under private contracts already signed and at selling prices higher than those stipulated in the long-term contracts. The balance will be sold on the spot market5 .
"Having commissioned Vila Para earlier than expected, Voltalia has increased its installed capacity by over 25% since July 1 st. This new power plant and the Vila Acre project, both located in the Serra Branca cluster, highlight Voltalia's industrial approach", says Sébastien Clerc, CEO of Voltalia.
The Serra Branca cluster
With the Vila Para and Vila Acre projects, Voltalia pursues the expansion of its largest cluster, Serra Branca, with a total 1.2 GW potential output. The cluster encompasses contiguous projects sharing common infrastructures:
- Power plants in production: 279 MW Areia Branca (90 MW), Vamcruz (93 MW), Vila Para (96 MW to date)
- Power plants under construction: 30 MW Vila Para (3 MW to date), Vila Acre (27 MW)
- Projects currently in development or prospection: about 900 MW
Voltalia's installed capacity: 477 MW
With Vila Para commissioned, Voltalia's installed capacity (all energies included) now amounts to 477 MW. This number takes into account the recent sale of a solar power plant in France26 and the addition, following the acquisition of Martifer Solar, of a 7.3 MW solar power plant in the United Kingdom (to be sold) and of 0.6 MW in Portugal.
Next date: Q3 2016 revenues, on 17 November 2016 (post trading).
About Voltalia (www.voltalia.com)
- Voltalia is an international renewable energies company producing electricity from many sources (wind and solar power, hydropower and biomass, with an installed capacity of 477 MW). It also provides services to independent customers.
- Voltalia operates in 17 countries over 4 continents and is able to act worldwide on behalf of its customers.
- Voltalia has been listed on the Euronext regulated market in Paris since July 2014 (FR0011995588 VLTSA).
Actifin Investor relations: A. Commerot, [email protected] Press Relations: J. Jullia, [email protected] Tel: +33 1 56 88 11 11
Voltalia Chief Administrative Officer: Marie de Lauzon Email: [email protected] Tel: +33 1 44 63 14 40
25 See press release dated 28 July 2016
6 See press release dated 28 September 2016
Press release 11 October 2016
Forward-looking statements - Voltalia
This press release contains forward-looking statements. Forward-looking statements are not historical facts. The statements contain forecasts and estimates, as well as assumptions on which they are based. They are statements concerning projects, objectives, intentions and expectations regarding the financial results, events, transactions, future services, product development and potential, and future performance. While Voltalia feels that these forward-looking statements are reasonable, investors are reminded of the fact that these statements are subject to numerous risks and uncertainties that are difficult to forecast, and which in general are beyond Voltalia's control. This means that the results and the actual events that occur can differ significantly from those that are described, implied or expected in the forward-looking statements and information. These risks and uncertainties include inherent uncertainties linked to the decisions of regulatory authorities on whether to award (or not) operational authorisations and building permits, and at what date, the subsidies provided for renewable energy, other factors that can have an impact on the production capacity or the profitability of the Voltalia production sites, as well as those developed or identified in the public documents that Voltalia submits to the French Financial Markets Authority (AMF), including those set out in the Voltalia registration document, as well as in its interim financial report. Voltalia does not commit to update the forward-looking statements or information other than as required according to applicable regulations, including Articles 223-1 et seq. of the French Financial Markets Authority (AMF) General Regulation.