|FUTUREN obtains permission to build a new wind farm in France and publishes its revenue for the first quarter of 2017 (2017/05/04 6:00 PM)|
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 Demange future wind farm will produce green electricity that will cover the yearly domestic electricity needs of more than 19,000 households.
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.
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.
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.
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