ENERTIME (FR0011915339 - ALENE), a French “CleanTech” company serving industrial energy efficiency and decentralized renewable energy production (biomass and geothermal energy), announces the creation of its subsidiary CIRCULAR ENERGY, an energy service company (ESCO for Energy Service Company) intended to develop, finance and operate industrial fatal energy recovery systems using ORC technology.
ENERTIME, which currently holds 90% of the capital of this subsidiary, plans to associate new investors with the capital of the company by the end of 2020.
ENERGIE CIRCULAIRE will be tasked with finalizing as a priority the development of the portfolio of ORC installation projects in France on which ENERTIME has been working since June 2019, based on the new rules for the use of Energy Saving Certificates (EEC). This portfolio already represents around ten potential projects with a unit capacity of 1 to 6 MW.
The objective of ENERGIE CIRCULAIRE is to implement two ORC projects in 2021 for at least 3 MW of electricity with an overall investment budget of around 10 M €, then a total of around 2022 MW gradually over the period 2025 to 140. ENERTIME will supply the complete ORC systems in partnership with suppliers of flue gas exchangers or lean gas boilers. Ultimately, the ambition is to develop in ten years a significant part of the potential of ORCs in French factories, estimated by ADEME at XNUMX MW, and to develop rapidly internationally to equip global industry. With the massification of the deployment of technology, the objective is to reduce the costs of its implementation so as not to have to benefit, in the long term, from subsidies.
The projects, installed in the heart of French and then European factories, will be mainly carried by project companies (SPV for Special Purpose Vehicle) whose shareholders will be ENERGIE CIRCULAIRE, ENERTIME, public and private institutional investment funds specializing in energy transition infrastructures and partner energy service companies.
In the context of the current crisis and despite the temporary drop in the cost of energy, the EWC mechanism makes it possible to finance energy savings and boost the economy. ENERGIE CIRCULAIRE will thus participate effectively in this economic and industrial revival by investing in French industrial facilities while implementing equipment designed and manufactured in France.
Gilles David, Chairman and CEO of ENERTIME, declares: “ The access to Energy Saving Certificates given very recently by the PACTE law to French industrial sites registered with the EU-ETS mechanism, makes it possible to support energy efficiency projects using ORC technology. These projects thus become profitable, by producing basic energy at the price of the grid, allowing factories to reduce their electricity consumption by up to 100%. The pioneering nature of ORC technology does not allow its rapid dissemination by existing players in energy efficiency services and requires the creation of dedicated players capable of accelerating the deployment of the technology in France initially and in the future. then international. In Asia, our ORC machines are mainly operated on this model of energy service company, for example for Baosteel in Shanghai and Bangkok Glass in Thailand. At a time when decarbonisation technologies in industry are recognized as strategic by the French government within the framework of the Industrial Energy Efficiency Sector Strategic Committee, the very concept of CIRCULAR ENERGY will be a major tool in the service of the reindustrialization of our territories and their adaptation to climate change. "
Information on CIRCULAR ENERGY is available on the website www.energie-circulaire.com.
