Romande Energie : AGEPP SA founded to exploit geothermally heated water in first-of-a-kind project in Switzerland

Plans to exploit geothermally heated water resources in the Lavey-les-Bains area, in Vaud, are moving forward following completion of the feasibility study, finalisation of financing arrangements and formation of AGEPP SA. The next step will be obtaining exploration and operational authorisation from Vaud Canton, after which drilling can begin.

Under the plans, a single production (well known as a 'singlet') will raise water to the surface by drilling down as deep as 3,000 metres, in an area well known in Switzerland for its geothermal potential. This same water resource has been tapped at the Lavey thermal spa for decades based on an existing series of wells.

AGEPP SA will pump geothermal water from highly permeable rock substrate that has naturally occurring clefts to produce round-the-clock electricity for some 900 households. It will also supply thermal energy and ground-heated water to the Lavey thermal spa.

This is a highly innovative project as it contains plans to generate power from a hydrothermal reservoir - which would be a first in Switzerland. It also dovetails perfectly with the Swiss Confederation's Energy Strategy 2050, which was approved on 21 May at a rate of 58.2% by Swiss citizens voting in a national referendum. In Vaud canton, the approval rating was 73.5%; in Valais, it was 63.4%.

The project brings together private- and public-sector shareholders, including several Western Swiss firms operating in the renewable energy field: SI-REN SA, Holdigaz SA, EOS Holding SA, Romande Energie Holding SA and CESLA SA, as well as the municipalities of Lavey-Morcles (Vaud) and Saint-Maurice (Valais). The project is also financially supported by the Swiss Federal Office of Energy (SFOE) and Vaud cantonal authorities.

Scientific and financial analysis for the project - including a thorough investigation of seismic activity and potential environmental impacts - has been completed. In addition, financing arrangements have been finalised. The authorisation request, to be submitted to Vaud Canton, will cover drilling as well as the construction of surface installations to harness the geothermal energy.

The public consultation is planned for early 2018, and drilling is scheduled to start in 2019. Operations are due to begin in 2020.

This press release is being issued outside the trading hours of the SIX Swiss Exchange as required by the SIX Listing Rules on ad hoc publicity.

M. Pascal HELFER, 021 620 70 00, medias@agepp.ch

Das Unternehmen AGEPP SA wurde am 12. Juni 2017 gegründet. Beteiligt sind die öffentlichen und privaten Partner des Projekts für hydrothermale Geothermie in Lavey-les-Bains: SI-REN SA, Holdigaz SA, EOS Holding SA, Romande Energie Holding SA und CESLA SA sowie die Gemeinden Lavey-Morcles (VD) und Saint-Maurice (VS). Weitere Informationen unter: www.agepp.ch