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Last right before the arrival of a new shareholder for SÉMER

Natasha Kumar By Natasha Kumar Mar20,2024

Last right before the arrival of a new shareholder for SÉMER

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The biomethanization plant of Cacouna

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An important step for the arrival of a new shareholder for the Renewable Energy Mixed Economy Company (SÉMER) was taken Monday evening at the Rivière-du-Loup municipal council. Elected officials adopted a resolution allowing the City to transfer part of its shares to the company Biogaz RDL.

Currently, the City and the MRC of Rivière-du-Loup divide equally 80% of the shares of the company which manages the Cacouna biomethanization plant. The remaining shares belong to the private company Terrix Envirogaz.

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Form to subscribe to the Bas-Saint-Laurent newsletter.Subscribe< p class="StyledBodyHtmlParagraph-sc-48221190-4 hnvfyV">According to the resolution adopted in Rivière-du-Loup, the City and the MRC will transfer 10% of their shares, while Terrix Envirogaz should transfer 5% of its shares to the new shareholder. In return, Biogaz RDL, a company created by the former owners of Hydroméga, would invest a certain amount in the Renewable Energy Mixed Economy Company. For the moment, the president of SÉMER, Michel Lagacé, cannot disclose the value of this investment.

The financial details surrounding this transaction will be made public when Quebec has given its agreement to this transfer.

A quote from Michel Lagacé, president of SÉMER

A resolution to ratify these changes must also be adopted by the members of the MRC of Rivière-du-Loup on Thursday.

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The president of SÉMER, Michel Lagacé

The arrival of a new shareholder was part of the conditions imposed by the Minister of Economy and Innovation, Pierre Fitzgibbon, in order to allow SÉMER to benefit from a subsidy. Last July, the minister confirmed the granting of new aid of up to $7 million for SÉMER. This aid should make it possible to acquire equipment for the production of liquefied natural gas (LNG).

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Residents questioned elected officials regarding the transfer of shares from the city to the company Biogaz RDL.

Once the Minister of Municipal Affairs and Housing of Quebec has given his approval to the transfers of assets, a first payment of $1.5 million will be made by Quebec. This amount will make it possible to order the parts necessary for liquefaction. LNG production is planned for June 2025.

After the municipal council meeting, the mayor of Rivière-du-Loup, Mario Bastille, wanted to point out that the arrival of Biogaz RDL was an excellent new. According to him, the new shareholder has the skills required to take the natural gas that is produced at the biomethanization plant and liquefy it.

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They will take care of managing operations for liquefaction and transporting LNG in the Énergir network.

A quote from Mario Bastille, mayor of Rivière-du-Loup< /blockquote>

Remember that since its founding in 2009, the gas produced by SÉMER at its biomethanization plant has been burned using flares. The sale of this LNG will constitute the main source of income for the plant and for the organization that manages it.

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Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

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