We inform that today Schmack Biogas S.r.l. (“Schmack Biogas”), a subsidiary of PLC S.p.A. (“PLC”), signed with Ago Renewable S.p.A. a private agreement to amend the pre-existing contract concerning the construction of a biomethane plant to be built in Marsala (TP), fed with the organic fraction of the municipal solid waste (the “Contract”).
The Contract, which is part of Schmack Biogas’s ordinary activity, was signed on June 12, 2017 – and therefore prior to PLC’s acquisition of the majority of the share capital of Schmack Biogas – by Schmack Biogas and CH4 Energy S.r.l., which then transferred it on December 23, 2020 to Ago Renewables S.p.a.. The latter two companies are both part of the Asja Ambiente Italia S.p.A. Group.
In particular, the private agreement expanded the supply limits and defined a new timeline. Due to the changes requested by the client, the price was redefined at about Euro 9.4 million. The amended contract contains standard clauses/in line with market practice for projects of this nature, including payment terms on the basis of contractual milestones.
The contracts are expected to be executed with own means. Schmack Biogas is scheduled to enter the site in early July 2021. The work is expected to be completed for the last semester of 2022.
Through this operation, Schmack Biogas confirms itself as a leading company in the biogas and biomethane sector, both in Italy and abroad, and allows PLC Group to strengthen its position in the renewable energy chain.