French Poweo posts 241% turnover increase for H1 2006
France’s leading independent power supplier Poweo posted this week a turnover of EUR 119.2 million for the first half of 2006, a 241% increase on the same period last year. The year-on-year rise reflects the natural growth of the company, founded in 2003.
Gas and power sales amounted to EUR 57.5 million, compared to EUR 21.8 million for the first half of 2005. Frederic Granotier, delegate director general at Poweo, told The Heren Report on Thursday that just under EUR 2 million of sales stemmed from gas sales, while the rest was generated through its power supply contracts. Revenues from the company’s Energy Management service totalled EUR 39.4 million, up EUR 35.5 million on the same period last year.
In a statement, Poweo said it had received its “public service” gas supplier licence as of 21st July 2006. Although it already has around 4,000 gas clients, Poweo can now also supply schools, hospitals and other public sites. The company also recently created an upstream gas division, headed by Luc Poyer, previously at Total. He is overseeing the construction of Poweo’s planned generation units as well as securing gas supply contracts. Currently, Poweo hold no generation assets.
Earlier this year, the company announced its joint venture with Austrian utility Verbund. The two companies plan to build 1,200 MW of CCGTs in France by 2009, estimated to cost EUR 127 million. The first CCGT is on schedule and will be in operation by the end of 2008. Poweo supplies 80,000 clients with electricity. KT
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