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BKW FMB Energy Ltd Production International
French authorities prohibit transfer of concession
Bern (ots) - At the end of January 2011, BKW FMB Energy Ltd (BKW) signed an agreement with the Ascométal steel manufacturer with a view to acquiring the Allevard hydroelectric power plant group in the French Alps near Chambéry. The responsible French authorities have now prohibited the transfer of the concession to BKW on the grounds that the concession provides for own consumption only and not the commercial use of the energy produced, and as such it constitutes an integral part of the steelworks. The agreement signed with Ascométal at the end of January cannot therefore be implemented.
The Allevard power plant group comprises four hydroelectric power plants with a collective capacity of 30 Megawatts and an annual production volume of 140 Gigawatt hours.
BKW remains committed to its goal of building up hydroelectric capacities in France. In addition to the selective acquisition of facilities, BKW intends to actively participate in the French government's forthcoming invitations to tender for hydroelectric power concessions.
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