Located next to the Galion sugar refinery, the 40MW facility will supply with processed steam, will burn bagasse (sugarcane waste) produced by the refinery. It is scheduled to commence operations in the first half of 2017.
The contract is valid for a 30-year period from commissioning.
In addition to helping reduce Martinique’s dependence on imported fossil energy, the all-biomass facility will generate enough frontline renewable electricity to cover 15% of the island’s energy requirements.
Being developed by Albioma Galion, a joint subsidiary of Albioma (80%) and its partner COFEPP (20%), the €170m Galion 2 facility will be financed by long-term project debt of approximately €120m.
Albioma CEO Jacques Pétry said: "Our determination to develop this innovative project has paid off, with the support of EDF, the public authorities and Martinique’s regional council.
"As well as bagasse – a strategic energy resource for Overseas France – we will be able to use other forms of local and imported biomass to generate competitively-priced, all-renewable frontline electricity with a minimal carbon footprint."
