A newly commissioned Hybrid Power Plant, located in Garowe, Somalia, will (sustainably) power approx. 100,000 inhabitants and lower electricity bills by 17%.

Regulatory News:

Electro Power Systems Group (Paris:EPS), technology pioneer of clean energy storage systems listed on the regulated market Euronext Paris, commissioned on Monday 21 February – through its subsidiary Elvi Energy – a new Hybrid Power Plant in Garowe, the capital of the state of Puntland (Somalia).

The Hybrid Power Plant, awarded last year to Elvi Energy by NECSOM (National Electric Corporation of Somalia) was worth 3 million euros and involved the engineering, supply and installation of a renewable and storage turnkey solution that allows the reduction of diesel consumption by more than 2,000 litres per day, powering approx. 100,000 people by renewables only.

The Hybrid Power Plant serves a 3.5MW load, and is expected to be shortly further extended with 450kW of wind energy, covering with renewables and storage more than 25% of the energy need of the city. Situated in North-East of Somalia, Garowe is the administrative capital of the autonomous Puntland region and a fast-growing city, which has also evolved into a local media and cultural hub.

Around 100,000 inhabitants of the urban area will now have green power, a 17% lower electricity bill, and a more reliable energy supply.

The Hybrid Power Plant is a real power plant fully remotely controlled, and is mainly composed by solar panels, wind turbines, energy storage system, backup generator and medium voltage distribution system.

“We are proud to power the Somalian people, reducing their electricity bills and their carbon emissions at the same time” said Paolo Morandi, Chairman of Elvi Energy and Senior Vice President of the EPS Group.

For Fabio Magnani, Chief Operating Officer of the Group “This is the first commissioning in the new Elvi Energy era, following the integration in the Electro Power Systems’ Group. It is a testament to our customers’ trust in EPS as an energy company, and the first step of our rollout plan in East Africa”.

Paolo Morandi, together with Nicola Vaninetti, Vice President and Ivo Sciuttini, International Business Development of the Group, were present at the opening ceremony of the plant, inaugurated by the Puntland Vice President Abdihakin Abdullahi Haji Omar, the former Puntland President Abdirahman Mohamed Farole, the Major of the Garowe city, and several members of the Parliament.

About Electro Power Systems

Electro Power Systems (EPS) is the pioneer of technology-neutral, integrated hybrid energy storage solutions for grid support in developed economies and off-grid power generation in emerging countries. The Group’s mission is to unlock the energy transition, by mastering the intermittency of renewable energy sources. Through the seamless integration of the world best battery technologies to provide flexibility, and the Group’s unique hydrogen and oxygen storage platform suitable for longer autonomy without resorting to diesel or gas-fueled generators, the group’s technologies enable renewable energies to power 24/7 communities in a completely cleaner and less expensive solution.

EPS is today listed on the French regulated market of Euronext, and part of the CAC® Mid & Small and CAC® All-Tradable indices: with headquarters in Paris, R&D and manufacturing in Italy and an international team based in California and Singapore.

The Group has installed in aggregate 3MW of hydrogen systems, 4.8 MW of Hybrid Power Plants, and 43.7MWh of energy storage capacity, for a total power output of 17.2MW deployed in 21 countries worldwide, including Europe, USA, Australia, China, Asia and Africa.

For more information www.electropowersystems.com

Media RelationsAlessia Di DomenicoHead of Global Media RelationsTel. +39 02 45435516Mobile +39 337 1645567e-mail: add@electropowersystems.comorInvestor RelationsFrancesca CoccoVice President Investor RelationsTel. +33 (0) 970 467 135 –Mobile +39 347 7056719e-mail: fc@electropowersystems.comorPress & Media - FranceCaroline LesageConsultantee-mail : clesage@actus.frAlexandra PrisaRelations PresseTel. +33 1 53673672 /+ 33 1 53673690e-mail : aprisa@actus.fr

WisdomTree US LargeCap (AMEX:EPS)
Historical Stock Chart
From Feb 2025 to Mar 2025 Click Here for more WisdomTree US LargeCap Charts.
WisdomTree US LargeCap (AMEX:EPS)
Historical Stock Chart
From Mar 2024 to Mar 2025 Click Here for more WisdomTree US LargeCap Charts.