Germany’s renewable energy law, the “Erneuerbare Energien Gesetz" (EEG), underpins the attractive project returns of AllMerus Energy Ltd.’s German assets. The cornerstones of the EEG are the high feed-in/off-take prices at which the local grid operator must purchase all electricity generated by biomass plants. Although power off-take at such favourable prices is required by law, other critical parameters of a successful project include fuel supply and steam off-take.
AllMerus Energy Ltd. has strong business relationships with both local German and international fuel suppliers and is in a position to achieve mid to long-term contracts securing fuel supply. AllMerus Energy Ltd. deploys state of the art, proven technology, without the risks of first-time technology. A key criterion in AllMerus Energy Ltd.’s project selection for its biomass portfolio is the existence of a creditworthy industrial steam off-taker willing to enter into longer term agreements to match a material part of the scheduled 20 year life of a biomass plant.
AllMerus Energy Ltd. created a German subsidiary under the NovusEnergy brand to develop a portfolio of biomass projects in Germany and other countries within the EU 27. NovusEnergy has arranged the signing of the respective contracts both with the fuel suppliers and with the steam offtaker for its 7 MW Brunsbüttel project. After NovusEnergy entered the permitting and technical design phases for Brunsbüttel biomass power plant in Q4 2006, the plant commenced operation in Q3 2008.
In addition to such greenfield projects, AllMerus Energy Ltd. was also actively pursuing the acquisition of existing biomass plants in Europe.In Q4 2008, through Euro Holdings, it acquired the Biomasse Heizkraftwerk Herbrechtingen CHP plant in Germany from a group of owners. The plant, which began operation in 2004, has a total firing capacity of 49MW, of which 15MW is electrical energy.
Following the acquisition of the Herbrechtingen plant, AllMerus Energy Ltd. restructured Novus Energy and the two biomass power plants under its management into a joint power company under Euro Bioenergy Holdings.
AllMerus Energy Ltd. has restructured a wood pellet production facility for a major German bank and has supported strategic and private equity investors in bidding processes for biomass power plants.
AllMerus Energy Ltd. is working together with municipal utilities who contribute strong local support, technical input and certain aspects of plant operation and maintenance services.
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