FUTUREN obtains permission to build a new wind farm in France and publishes its revenue for the first quarter of 2017 (AcT)

FUTUREN obtained a new building permit, free of any third-party claim, to install 9 wind turbines on the territory of the town of Demange-aux-Eaux, in the Meuse French department. The future wind farm's capacity is estimated at 20 MW.

This new authorization secures additional growth for the Group. In France, FUTUREN now holds 88 MW of wind projects which already received all necessary authorizations and are free of any third-party claim, including:

• the 21 MW Courant-Nachamps wind project, in the Charente-Maritime department, which is currently under construction and whose commissioning is expected in early 2018;
• the 35 MW second tranche of Les Monts, in the Aube department; the 13 MW first tranche of Les Monts project was commissioned in January 2017;
• the 12 MW Faydunes wind project, in the Aveyron department; and now
• the Demange wind project, for a capacity for c. 20 MW in the Meuse department.

The Demange future wind farm will produce green electricity that will cover the yearly domestic electricity needs of more than 19,000 households.

Revenue for the first quarter of 2017

The Sales of electricity activity recorded a revenue of 15.9 million euros in the first quarter of 2017. Despite the effect of recent wind farms' commissioning, the revenue for the first quarter of 2017 decreased by 11%, driven by unfavorable wind conditions, particularly in January 2017. On a like-for-like basis, the first quarter of 2016 represents a high basis of comparison, having benefited from particularly favorable wind conditions, especially in France.

The Sales of electricity activity relies on long term electricity buyback contracts (15 to 20 years depending on the country) with guaranteed tariffs. This secure activity accounted for 92% of the consolidated revenue in the first quarter of 2017.

The Development and management of wind farms activity registered a revenue of 1.3 million euros in the first quarter of 2017, which was also affected by wind conditions less favorable than in the first quarter of 2016 in Germany.

About FUTUREN

FUTUREN is an independent producer of wind energy, active over the entire wind value chain. The Group develops, builds and operates wind farms in four countries: Germany, France, Morocco and Italy. In total, the Group operates 745 MW for its own account and for third parties.

 
CONTACT

French Société anonyme (public limited company with Board of Directors) with a share capital of €22,693,545.00

Registered office: 6 rue Christophe Colomb - 75008 Paris - France

Administrative address: Europarc de Pichaury - Bât. B9 - 1330, avenue JRGG de la Lauzière - BP 80199 - 13795 Aix-en-Provence Cedex 3 - France

Tel: +33 (0)4 42 904 904 – Fax: +33 (0)4 42 904 905 - www.futuren-group.com

The stock is listed on the compartment B of Euronext Paris, symbol: FTRN.

Source : Actusnews