Thenergo settles jatropha assets in Thailand
20 January 2010 - 18h00 CET - Gereguleerde Informatie
Antwerpen - As Thenergo (Euronext Brussels: THEB) focuses on its core business of producing electricity and heat, the company has been working progressively towards a final settlement of all jatropha related activities and subsequent liabilities in Thailand. Thenergo reached important agreements with major suppliers and contractors, regarding its jatropha activities in Thailand. The jatropha related investments resulted in a write-off of € 3 million in 2008 and € 2 million in H1 2009.
An agreement was reached with the supplier of equipment for the jatropha-oil production plants. Both local project companies in Thailand have been sold. In addition the services agreement with the local partner was ended. These transactions result in a final settlement that ends the liabilities of Thenergo. In order to secure Thenergo's feedstock procurement with regard to bio-oils, Thenergo is undertaking far-reaching discussions with bio-oil suppliers and potential partners for its CHP production plants.
'We are very pleased with these final settlements in Thailand. We have turned an important page in the history of Thenergo which enables us to fully concentrate on future development and profitability of our company in Belgium and its neighboring countries.' says Norbert Van Leuffel, Chairman of the Board of Directors.
These events follows Thenergo's focusing on its core business which is the generation of electricity and heat based on the CHP technology in decentralized power units. Today Thenergo has an operational portfolio of 78 Mwe and 199 MWth, equivalent to the energy needs of 107,169 households and saving 141,914 ton CO2 on a yearly basis. With this portfolio Thenergo produces 375,095 MWhe on a yearly basis.
About Thenergo
Based in Belgium, Thenergo is a fast growing, fully integrated and independent developer and operator of sustainable energy projects using biogas, natural gas, bio-oil and woody biomass. Thenergo creates value for its partners and shareholders as a one-stop provider of sustainable energy solutions, transforming renewable fuels into electricity and heat.
For more information, please contact:
Chris Belien
General Counsel & Secretary
T.: +32 3 292 96 99
Chris.belien@thenergo.eu
Caroline Kerremans
Communications Manager
T.: + 32 3 292 97 01
Caroline.kerremans@thenergo.eu
Gateway House, Brusselstraat 59
B-2018 Antwerp
Belgium
This press release and the notification are made available through our corporate website www.thenergo.eu.
HUG#1375433
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