3A Finance PLC
3A Finance Plc signs letter of intent to acquire 51% of Gilathron Investments Ltd.
3A Finance PLC / Key word(s): Letter of Intent Media Release: 3A Finance Plc signs letter of intent to acquire 51% of Gilathron Investments Ltd. London/Zürich, 03 October 2011 – 3A Finance PLC is pleased to announce that it has finalized a letter of intent for the acquisition of an 51% interest into Gilathron Investments Ltd (trading under the name: Bluenergy Africa). Bluenergy Africa specializes in off-grid electricity generation on the African continent where the national grid is not available or incapable of supplying sufficient power. Bluenergy offers a turnkey service, supplying electricity generating devices, which are made in accordance with the specific needs of its customers and take into account the specific location where the devices are to be deployed. Bluenergy Africa's fiscal year is set to be from the 01st of July of the actual year to the 30th of June of the coming year. It is estimating to complete the fiscal year 2011/2012 with approx. 24,48 million ZAR (2,36 million EUR) in revenues and approx. 8,5 million ZAR (0,82 million EUR) in net profits, and it is forecasting in 2012/2013 an estimate of 1,65 billion ZAR (159,2 million EUR) in revenues and approx. 0,3 billion ZAR (29 million EUR) in net profits. According to the United Nations Population Fund, the lack of clean and affordable energy, in developing countries, is a significant barrier to development and a major contributor to a host of environmental and human health problems. Some 2 billion people rely on wood, dung and other biomass fuels for cooking and heating, and use them in polluting and inefficient ways. In percentage terms, 40% of the world's people lack modern energy services. In Africa the number exceeds 80%. Unfortunately, nine out of ten Africans have no access to electricity and rely on traditional sources of biomass for their energy. These sources themselves are under threat from overuse, creating additional environmental challenges. 'We believe after the completion of the acquisition by 3A, Bluenergy Africa will be active all over the African continent' stated Robert Casaletti, Chief Executive Officer of Bluenergy Africa. He continued: 'We will reach a total manufacturing capacity of 12,000 units of our Hybrid Systems by mid 2012 and we will be able to sell at least 6,000 units during 2012 with a 100% ramp-up the coming year', he concluded:' Because of the affordability of our system, we will have a huge demand in Africa as the closest system (separate PV and Eolic) generating a similar volume of electricity currently available in the USA, sell for more than double the price of our hybrid unit.'. 'I am very pleased to have Bluenergy Africa among our divisions' stated Antonio Galvez, Chief Executive Officer of 3A Finance, he added: 'and I am extremely proud to complete this acquisition and contribute to the major development of Africa by delivering affordable hybrid systems that produce sufficient electricity to cover the existing lack in certain regions of the African continent'. He concluded: 'We will definitely study the possibility of creating another manufacturing unit in North Africa in either Morocco or Tunisia to cope with the Maghreb needs'. Recent 3A Finance PLC News: 3A Finance Group has finalized a letter of intent to acquire 51% of TESEO Systems Ltd.
3A Finance PLC
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141048 03.10.2011 |