{"id":69120,"date":"2019-08-12T07:22:20","date_gmt":"2019-08-12T05:22:20","guid":{"rendered":"https:\/\/renewable-carbon.eu\/news\/?p=69120"},"modified":"2019-11-28T15:50:19","modified_gmt":"2019-11-28T14:50:19","slug":"first-algo-solar-complex-in-the-world-financed-by-rivage-investment","status":"publish","type":"post","link":"https:\/\/renewable-carbon.eu\/news\/first-algo-solar-complex-in-the-world-financed-by-rivage-investment\/","title":{"rendered":"First algo-solar complex in the world financed by Rivage Investment"},"content":{"rendered":"<p><strong>Global EcoPower (Euronext Growth &#8211; FR0011289198 &#8211; ALGEP) has signed a deal to finance its algo-solar project in Payra sur l&#8217;Hers. REDIHR, a fund managed by Rivage Investment, an independent Paris-based portfolio management and advisory firm specializing in European private debt, is to lend\u00a0\u20ac26 million to help fund the project. The transaction entails a sustainable commitment by Rivage Investment&#8217;s REDIHR fund to the ecological transition, as the financing arrangements span a 10-year period.<\/strong><\/p>\n<p>The deal finalises the financing arrangements for this landmark project in France&#8217;s Aude region, which requires a total investment of\u00a0\u20ac37 million. Commissioning is scheduled for early 2020.<\/p>\n<p>GEP Chairman and CEO Jean-Marie Santander said: \u201cWe are delighted to have found a partner like Rivage Investment that has decided to invest, on a standalone basis, in structuring and financing a project of this nature, thereby becoming a European-scale player in the ecological transition sector. Through this operation launched late 2017 and funded through equity, Global EcoPower is carving out a position as a pioneering builder of eco-complexes, large power consumers that produce all of their own electricity and even generate more than they consume. Global EcoPower&#8217;s current strategy is fully in line with its mission to limit global warming.<\/p>\n<h3>What makes the Hers algo-solar complex so unique is its division into two sectors:<\/h3>\n<ul>\n<li>A power generation unit comprising two solar power plants installed on greenhouse rooftops (3.1 and 3.5 MWp), winner of the early 2018 CRE4 tender, a 5 MWp ground-based solar power plant designed to supply all the energy requirements of the spirulina production unit, and two 4.4 MWe cogeneration plants subject to C13 pricing, giving a total output of around 20 MW. The heat produced by the cogeneration plants will also be consumed internally.<\/li>\n<li>France&#8217;s largest premium spirulina production plant, which aims to produce 70-100 tons per year in partnership with the CEA-Tech research institute. France consumes 250 tons of spirulina per year and produces 40 tons. Consumption is rising by 9% per year. The spirulina strain used by GEP was developed by CEA-Tech and is currently grown in the Spiruline de Normandie nursery. This company was acquired in 2018.<\/li>\n<\/ul>\n<p>Demand for premium spirulina has been identified in France, Portugal, Spain, Italy, Switzerland and the USA and is growing worldwide. This is therefore a key strategic priority for GEP, which has established a pipeline of projects to be developed in this sector.<\/p>\n<p>The Hers complex is the result of extensive R&amp;D work that began in 2010 with the acquisition of the land, followed by the administrative permit phase then the equity-funded construction of the site, culminating today in the last key milestone before completion of the work.<\/p>\n<p>The conditions precedent required by the lender have been fulfilled and, on July 30, 2019, the REDIHR\/Rivage Investment fund granted a\u00a0\u20ac26 million loan repayable in 20 six-month instalments. This loan supplements the equity injections totalling\u00a0\u20ac8.6 million already made by the Group in the various companies involved in the project.<\/p>\n<p>Rivage Investment was advised by LPA-CGR law firm.<\/p>\n<p>Global EcoPower was advised by Alexis Madec, Arnaud Berdou and Henri Stiegler on legal and tax matters and by Tevali Partners on the financing arrangements.<\/p>\n<p>&nbsp;<\/p>\n<h3>About GEP<\/h3>\n<p>Global EcoPower, a company based in Meyreuil (13), researches, designs, develops, finances and builds ecological positive energy projects that implement high value-added products and renewable energies, in particular wind and photovoltaic energy<br \/>\nGEP is listed on the Euronext Growth Market in Paris (ISIN code: FR0011289198 &#8211; mnemo: ALGEP).<\/p>\n<p>GEP is eligible for PEA-PME.<\/p>\n<p>&nbsp;<\/p>\n<h3>Contact<\/h3>\n<p>Global EcoPower<br \/>\nPhilippe PERRET<br \/>\nExecutive Vice President<br \/>\nT\u00e9l.\u00a0: + 33\u00a0442\u00a0245\u00a0016<br \/>\nE-Mail: <a href=\"mailto:contact@global-ecopower.com\" target=\"_blank\">contact@global-ecopower.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global EcoPower (Euronext Growth &#8211; FR0011289198 &#8211; ALGEP) has signed a deal to finance its algo-solar project in Payra sur l&#8217;Hers. REDIHR, a fund managed by Rivage Investment, an independent Paris-based portfolio management and advisory firm specializing in European private debt, is to lend\u00a0\u20ac26 million to help fund the project. The transaction entails a sustainable [&#8230;]<\/p>\n","protected":false},"author":59,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","nova_meta_subtitle":"","footnotes":""},"categories":[5572],"tags":[12575],"supplier":[16417,16416],"class_list":["post-69120","post","type-post","status-publish","format-standard","hentry","category-bio-based","tag-nutrition","supplier-global-ecopower","supplier-rivage-investment"],"_links":{"self":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/69120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/comments?post=69120"}],"version-history":[{"count":0,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/69120\/revisions"}],"wp:attachment":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media?parent=69120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/categories?post=69120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/tags?post=69120"},{"taxonomy":"supplier","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/supplier?post=69120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}