EPURON sells biogas plant to CEE Bioenergie Holding
Hamburg, 9 February 2010: EPURON GmbH has sold the Güssefeld biogas plant to CEE Bioenergie Holding before the facility has even been completed. All the necessary approvals for the 800 kilowatt project have been granted and EPURON has enlisted MT Energie, a company known for its experience and efficiency, to carry out the turnkey construction project. The biogas plant will be built on the company site of a major agricultural business in Güssefeld, Saxony-Anhalt. Long-term contracts to supply the plant with high-energy plant silage and provide facility management services have also been concluded in advance.
The Güssefeld site is the fourth EPURON biogas plant to be acquired by CEE Bioenergie Holding. It is an important addition to the company’s existing portfolio of three facilities which are likewise located in Saxony-Anhalt. CEE Bioenergie Holding GmbH & Co. KGaA, Hamburg is one of the best-known German investors in the biogas sector. CEE Bioenergie also organised private equity financing for the Güssefeld project.
According to Moritz Böcking, head of the bioenergy division at EPURON GmbH, this proves that the company’s strategy is the right one: “We have gradually built up a promising project pipeline within our German bioenergy division. In addition to our power generation plants, we have been developing large-scale facilities to treat biomethane and feed it straight into the natural-gas network since the start of 2009.”
Managing Director Joachim Müller added: “We are seeing a considerable increase in the number of financial and strategic investors looking to invest in base-load capable biogas plants. The fact that we have sold this plant prior to completion and have such good business relations with CEE Bioenergie is proof of the great trust people place in our company and projects.”
The Güssefeld biogas plant is now the eighth biogas project which EPURON has sold – proof that its business model is working. “We only approach customers when the entire package is perfect, i.e. when everything necessary to build and operate the facility is in place,” said Moritz Böcking. “This includes signing leasing and plant construction contracts, securing a supply of input materials, organising grid connections and obtaining private equity financing. By the time we finally approach potential customers, the project is already fully planned on paper and we can give an accurate prediction of the project's returns.”