Altri becomes controlling shareholder in EDP Bioeléctrica
The 13-year-old partnership between Altri and EDP to produce renewable energy using biomass has come to an end. The operation totalled 55 million euros
The company headed up by Borges de Oliveira and Paulo Fernandes decided to forge ahead with its purchase of half the capital the electricity firm held in EDP Bioeléctrica, and now holds all the capital in the biomass plant company which has an installed capacity of over 100 MW.
In 2017 the company generated a profit of 5 million euros, revenue of 48.5 million euros and an EBITDA of 16.7 million euros. The debt stood at 39.9 million euros, which corresponds to 2.4 times the EBITDA.
This operation is important for Altri, not only because of energy production but also because this agreement allows the company to continue with its strategy of constantly improving the integration between the forestry industry which produces biomass and energy production using this renewable resource.
EDP Bioeléctrica has four biomass plants located near EDP’s and Altri’s infrastructures. The company is building a new plant whose start-up is expected in the first quarter of 2019. This will bring the company’s installed capacity to 100 MW.
As well as Mortágua (8.6 MW), EDP Bioeléctrica runs the plants owned by Celtejo in Vila Velha de Ródão (12.8 MW), Caima in Constância (12.8 MW) and Celbi in Figueira da Foz (27.9 MW). The deal hinges upon no opposition from the Competition Authority.
