Biggest contract in McPhy's history fuels shares

Mcphy Energy SA

22/12/2021 09:02

** Shares in McPhy Energy  MCPHY.PA  rise 6.9% to the top of
France's SBF 120  .SBF120  index after being selected to equip
an electrolysis platform in Portugal
    ** The French energy group will equip the GreenH2Atlantic
renewable hydrogen production project with a 100 megawatt
electrolysis plant in Sines  urn:newsml:reuters.com:*:nFWN2T60S8
    ** "For McPhy, this major contract (the biggest in its
history) represents several tens of millions of euros (above 60
million euros according to us)," Portzamparc notes
    ** The supply deal is set to be finalised during H1 2022,
McPhy added in a statement, with the contruction expected to
start in 2023 and operation to begin in 2025
    ** The unit cost of the electrolyser is estimated at 480
euros/kilowatt-hour, Berenberg adds, implying net revenue to
McPhy of about 48 million euros ($54.10 million)
    ** GreenH2Atlantic will be developped by a consortium of 13
entities, including EDP  EDP.LS , Galp  GALP.LS , Vestas Systems
 VWS.CO , Engie  ENGIE.PA  and Martifer  MARTI.LS 
    ** The stock of McPhy is down by nearly 39% year-to-date

($1 = 0.8873 euros)

 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))