Alpiq divests its share in Forces Motrices de Fully SA

Lausanne - Alpiq has sold its 28% shareholding in Forces Motrices de Fully SA to SEIC SA, an electricity distribution and multimedia company in the Swiss canton of Valais. Forces Motrices de Fully operates a 3.2 MW hydroelectric power station, which is currently undergoing refurbishment. The sale represents part of the transformation of the Alpiq Group, the objectives of which are to streamline the generation portfolio, achieve focused cost management and reduce net debt. Hydropower will remain one of the pillars of Alpiq’s business activities in the future.

Alpiq has completed the sale of its stake in Forces Motrices de Fully SA. SEIC SA, based in Vernayaz in the Swiss canton of Valais, has acquired the 28% share. The parties agreed not to disclose the sales price. SEIC SA will become a full shareholder as of 1 January 2016, and thereby a co-owner along with the Municipality of Fully and the Citizens' Commune of Fully, which jointly hold 72% of the shares.

The divestment of Alpiq’s stake in Forces Motrices de Fully SA takes place within the framework of the transformation of the Alpiq Group, the objectives of which are to streamline the generation portfolio, achieve focused cost management and reduce net debt. With an installed capacity of nearly 2,800 MW, hydropower remains one of the main pillars of Alpiq's generation portfolio. The Group intends to continue to optimise and consolidate its leading position in the field of hydropower and maintain its commitment to preserving Swiss hydropower.

Forces Motrices de Fully SA operates a hydroelectric power station in the canton of Valais. The plant is fed by the waters of Grand Lac and the Lac de Sorniot. Major refurbishment work is underway, with the aim of establishing three turbine levels at the small Sorniot Lake, at Garettes, and at Verdan. The energy produced will be fed into the existing grid, and the water leaving the lower level will be returned to the local water system after filtration.