GI Energy Investments and Gi Power Plants, the subsidiaries of Graanul Invest group, signed a shares purchase agreement with German Pellets Holding Belgium NV, after which Graanul Invest became the owner of Langerlo NV, as the company said in the press release received by Lesprom Network.
Langerlo NV owns an electric plant in Flanders region in Belgium with the capacity of 656 MW. 86 MW of producing capacity uses gas and 470 MW uses coal as a fuel. Supporting measures in the form of green certificates have been appropriated to the Langerlo plant in order to convert coal-based boilers into burning pellets. The plant uses 1.8 million tons of pellets per year when working full-load.
The rebuilding of the plant must be finished by autumn 2018. The price and conditions of the deal are confidential but the magnitude of investment which goes into converting the plant is around Euro 250 million. Langerlo power plant produces around 8% of electricity supply of Flanders region.
AS Graanul Invest is a forestry and energy concern, currently the biggest producer of wood pellets in Europe.