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Ence agrees to redundancy plan at Navia plant as part of Efficiency Plan, to make savings of €22 per tonne of cellulose

Intermoney | Ence (ENC) (Buy, Target Price £4 per share) announced on Friday that it has reached an agreement with the company’s employee representatives to implement a collective redundancy plan (ERE) that will affect its Navia plant (Asturias). The agreement between the company and the workers provides for the elimination of 44 jobs by 31 December 2027, as well as the relocation of another 40 people to other companies in…


Ence nuevita

Ence’s biomass plants set to increase remuneration to almost €6/MWh and Magnon’s to €19.5/MWh after remuneration parameters are updated

Renta 4 | The Official State Gazette (BOE) has published the order from the Ministry for Ecological Transition and the Democratic Challenge updating the remuneration parameters for electricity production facilities using renewable energy sources, cogeneration and waste. The new order updates the average annual market price for 2026, 2027 and 2028, as well as the estimated technological adjustment coefficients, the standard number of operating hours and the upper and lower…


Ence nuevita

Regional Government of Galicia grants Integrated Environmental Authorisation to Ence’s bleached recycled fibre bioplant in As Pontes

Link Securities | The Galician Regional Government has granted Integrated Environmental Authorisation (AAI) to the bleached recycled fibre bioplanta of Ence (ENC) in As Pontes (A Coruña), as detailed in the Official Gazette of Galicia and reported by the Bolsamania website. This is a strategic step for the company in promoting this initiative, which was declared a strategic industrial project by the regional government in 2023. With the IEA, ENC…


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Ence agrees with BBVA to acquire and promote La Galera biomethane plant: bank to contribute some €19 million

Link Securities | Spanish cellulose manufacturer Ence (ENC) has reached an agreement with BBVA (BBVA) to acquire and promote the La Galera biomethane plant, which it recently acquired in Tarragona through its subsidiary Ence Biogás, according to the Expansión newspaper. Using the project finance formula, BBVA will contribute just over €19 million for the purchase of the factory from a group of local ranchers, farmers and investors, as well as…


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Ence updates decarbonisation plan and raises absolute emissions reduction target to 75% by 2035

Alphavalue / Divacons | The paper and energy group has updated its Decarbonisation Plan by increasing the level of reduction of Scope 1 and 2 emissions by 2035, setting targets for 2030 as an intermediate milestone and also incorporating targets to reduce indirect Scope 3 emissions. Specifically, the company, based on the 2018 financial year, increases the level of ambition of the target set for 2035 from a group-wide reduction…


ence energiaycelulosaCM

Ence acquires first biomethane plant for undisclosed price

Renta 4 | Ence has closed the acquisition of a biomethane generation plant in the town of La Galera (Tarragona), with a capacity to produce up to 50 GWh of biomethane per year, with its corresponding sustainability certificates. It has also signed a 15-year agreement with a gas trading company for the sale of the biomethane produced by the plant. As part of its business plan, Ence Biogas plans to…


ence energiaycelulosaCM

Constitutional Court dismisses State Attorney Office’s appeal and upholds legality of extension of concession of Ence’s biofactory in Pontevedra

Renta 4 | The Constitutional Court has rejected the appeal filed by the State Attorney’s Office against the ruling handed down in February 2023 by the Audiencia Nacional (Supreme Court), which upheld the legality of the extension of the concession for Ence’s biofactory in Pontevedra. In the absence of knowing the decision of this Court on the other appeal filed against this judgment, by the City of Pontevedra, the Company…


ence energiaycelulosaCM

Ence takes over SNIACE’s forestry assets and seed orchards

GroupLink Securities| Spanish pulp and energy company Ence (ENC) announced on Friday that it has been awarded the forestry assets of SNIACE (SNC) in the auction held as part of the company’s insolvency proceedings, Bolsamania.com reported. Ence said that with this transaction, it continues in sustainable forest management, a strategic business line for the group and fully aligned with its commitment to the bioeconomy. Also, this award will allow the…


Ence2

Ence says it has signed a contract with a major brewery for conversion of thermal processes based on gas, fuel oil or coke

Link Securities| The company’s president, Ignacio Colmenares, has claimed that the company has signed a contract with a major brewery based on the transformation of thermal processes based on gas, fuel oil or coke by a pure electric solution or a mixed solution with biomass depending on the temperature and pressure at which companies need steam. The ENC executive also pointed out that before the end of this month the…


Ence: Buy cellulose during Chinese New Year

Ence 3Q19 EBITDA falls -57% vs 3Q18

Banc Sabadell | Ence has published bad results for 3Q19, although more or less in line with expectations at the level of Ebitda. Thus sales fell -8.4% vs 3Q18, somewhat better than expected (-11.1% BS expectation and -12.6% consensus) above all because of a greater volume of sales.