Alter Energy Group AG
‘Alter Energy Group announces Smela Green Tariff Net Production and Heat Rates
Alter Energy Group AG / Miscellaneous 30.08.2010 12:00 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- 'Alter Energy Group announces Smela Green Tariff Net Production and Heat Rates' Zurich Switzerland - August 30, 2010 ALTER ENERGY GROUP AG ('AEG') (Frankfurt Stock Exchange Ticker Symbol: 39f) announces the 'Smela' Biomass CHP Plant Green Tariff electricity and heat sales rates. According to the National Electricity Regulatory Commission (NERC) Resolution on Heat Energy Production Tariff Approval for Smilaenergopromtrans No. 637 the Smelaenergopromtrans (SEP) heat tariff rate equal to 104.44 UAH or EUR10.04 EUR/Gcal without 20% VAT. According to Volodymyr Kukovalskyy, founder and General Director of Jugenergopromtrans (JEP), after District heating system fees, Smela will receive an additional 100 UAH or EUR9.62 EUR/Gcal in net profit for heat transmission to end users. The net heat tariff should be 204.44 UAH or roughly EUR19.65 EUR/Gcal. According to the NERC Resolution on Green Tariff Rate Approval for Smilaenergopromtrans No. 638 Smela Green Tariff rate as of June 1, 2010 is equal to 134.46 kopeks or EUR12.40 EUR cents/kWh (w/out VAT) equal to 1345.5 UAH or 124.00 EUR/MWh. - Estimated electric energy net output is 16.295M kWh/year; - Biomass price is considered at the rate of 189.33 UAH or EUR18.20 EUR/metric ton; - Cost price will equal to 15.44 kopecks or EUR1.48 EUR cents/kWh (includes biomass, salaries, employee tax, amortization and maintenance). Edward J. Klaeger IV, CEO of AEG explained, 'The issuing of the Green Tariff rates completes the NERC phase of bringing Smela on-line under Ukraine Green Tariff. The net electrical output figures are higher than projected which provides increased operating margins and a higher valuation. This should result in higher earnings per share and increased share valuation for our shareholders. We expect to re-invest the majority of the profits in additional Smela expansion to increase capacity resulting in greater project and shareholder valuation' About JEP and SEP: JEP is a Ukraine based engineering, project owner and developer located in Kiev. SEP is the local corporate entity that owns and operates the Smela CHP Plant as a minority subsidiary of JEP and majority subsidiary of AEG. About AEG: AEG is a Zurich-based publicly traded Swiss company with operations in Ukraine. AEG is active in developing; acquiring and making investments in Ukraine based renewable energy generation and distribution projects and companies. For more information on AEG please visit: www.alterenergygroup.com Contact Investor Relations: info@alterenergygroup.com +41 44 500 5411 Forward-Looking Statements Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the Company's current and future capital needs, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, and other risks. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release. 30.08.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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