–PRESS RELEASE–
Amsterdam, October 24, 2011
Hydro Investment Projects B.V. (HIP) announced today that it has signed the pre-agreements to purchase and finance yet another two hydro plants in France. The plants are located on the river Gave d’Oloron at the towns of Sorde l’Abbaye and Auterrive, in the Pyrenees, France. Just like the other plants that the company acquired in this region, these plants have a very constant production during the whole year and are based on a “fondé en titre” (an everlasting waterright). They can be considered to create base load electricity.
These newest additions to the Hydro Investment Projects portfolio in France underlines HIP’s strategy to build strong hydro power positions in specific (western-) European countries.
The plant at Sorde l’Abbaye is the most sustainable energy production site in France as it dates back from the Roman time before Christ. Ever since that period the site has been producing energy for generations and will continue to do so for many years to come. The Sorde power station consists of a water intake, a canal, and a single Francis turbine, converting the water flows to sustainable energy. It produces 2,7 GWh electricity per year. The plant at Auterrive consists of a water intake, a canal and a single Kaplan turbine with a rated power output of over 2 GWh annually.
The plants will be renovated and been brought up to the quality level of the other HIP power plants. For this purpose HIP will work with its international team in order to optimise the power production. The plants will be equipped with the latest automation systems, internet connections and cameras in order to have complete remote access. The power plants can therefore fully be controlled, managed and steered through the internet. The plants will both be brought under a new electricity contract with EDF, securing a 20 years state guaranteed inflation linked feed-in tariff.
About International Hydro
International Hydro is an Amsterdam based company which is built on the idea that there is nothing greener than blue. We build, develop and finance our own portfolio of small hydro power plants in Europe. We are a sleek and entrepreneurial company looking to develop a cleaner, more reliable, sustainable and de-centralised energy source.
About Hydro Investment Projects
Hydro Investment Projects is an Amsterdam based joint venture of International Hydro together with the Dutch renewable energy company Greenchoice, and World Improvement Money (WIM) BV, a Dutch investment company in profitable People & Planet companies. Through its shareholders the venture combines hydro expertise, a people & planet approach and profound energy experience. Purpose of the joint venture is to acquire specific Hydro Power plants in West and South-East Europe.
Hydro Investment Projects has offices in Amsterdam, The Netherlands; Adenau, Germany; and Nancy, France.
For more information contact Mr. Alex Schoep at a.schoep@international-hydro.com or Mr. G. Overwater at g.overwater@international-hydro.com. Website : www.international-hydro.com
