Structure of Séchilienne-Sidec
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ANNUAL REPORT 2006 Independent energy producer WorldReginfo - 8e66b5f8-9c0e-4d30-b141-4afee9c2e7e9 SÉCHILIENNE-SIDEC 30 rue de Miromesnil 75008 Paris - FRANCE Tél : + 33 (0)1 44 94 82 22 Fax : + 33 (0)1 44 94 82 32 website : www.sechilienne-sidec.com mail : [email protected] SA au capital de 1 061 381.86 euros RCS Paris 775 667 538 WorldReginfo - 8e66b5f8-9c0e-4d30-b141-4afee9c2e7e9 DATA FOR THE SECHILIENNE-SIDEC GROUP Key figures 2006 Consolidated sales Stock market T 2006 capitalization at 31/12/06 Million Billion 181.1 euros 1.15 euros Installed capacity by end 2006 450.5 MW Biomass burned during the year Power of plants under construction by end 2006 968,000 164.5 MW tonnes Saving the equivalent of over 200,000 tonnes of oil Power generated by end 2006 2,450 GWh i.e. the annual consumption of a European city of 1,500,000 inhabitants WorldReginfo - 8e66b5f8-9c0e-4d30-b141-4afee9c2e7e9 Biomass, green energy The renewable energy par excellence, Biomass combined with coal offers a substantial competitive edge in a world of costly oil and gas. Businesses The use of plant materials from agriculture or forests or their sub-products for energy generation is centred of increasing value for economies that are feeling the impact of the rarefaction and ever-higher costs on the of hydrocarbons and the need to combat the greenhouse effect. The use of biomass enables a Indian renewable local resource to replace exhaustible, imported fossil fuels and reduce pollution by means Ocean and of photosynthesis (absorption of carbon gases by plants that fix the carbon and produce oxygen). the Caribbean Séchilienne Sidec is one of the leading French producers of electricity from biomass, of which it consumed 968,000 tonnes in 2006, thus economising the equivalent of over 200,000 tonnes of oil. Wind power, an inexhaustible source of natural energy. Business Electrical generation from wind power is a recent business in the group, but it is already a sizeable located one: 2005 was the first year of full operation of 25 wind turbines generating 37.5 MW total power, set in metro- up in the Pas-de-Calais in northern France (Haute-Lys wind farm). They generated 105 GWh, some 5% politan of all the wind-powered electricity in metropolitan France, in 2006. Séchilienne-Sidec is setting up France other wind farms in metropolitan France, designed to generate 32.5 MW by the end of 2007. Many other projects are currently being studied. Solar power, another clean, renewable source of energy Solar power Séchilienne-Sidec has decided to enter the ranks of leaders in photovoltaic electricity generation linked business to the grid. Since December 2006 the Group has been operating the most powerful solar power plant in France, installed on the rooftops of warehouses in Reunion Island, comprising of 6060 photovoltaic cells spread over a total surface area of over 8,000 square metres, representing total installed power of 1 Megawatt. The development of this new solar power business should continue and accelerate in the coming years: 2 more megawatts are being built in Reunion Island, and the commercial actions undertaken in Martinique and Guadeloupe should result in the installation of WorldReginfo - 8e66b5f8-9c0e-4d30-b141-4afee9c2e7e9 several megawatts as early as 2007. THERMIC ENERGY Martinique Guadeloupe Reunion Island Mauritius 400,000 inhabitants 458,000 inhabitants 785,000 inhabitants 1,258,000 inhabitants Installation, commissioning in Output 2006 Output 2006 Output 2006 1st quarter 409 GWh 1,256 GWh 598 GWh 2007 • Compagnie de Cogénération • Compagnie Thermique • Compagnie Thermique • Compagnie Thermique du Galion du Moule de Bois Rouge de Bellevue • Compagnie Thermique • Compagnie Thermique du Gol du Sud • Compagnie Thermique de Savannah (under construction) WIND POWER 105 GWh Equivalent to 5% Output of total electricity 2006 generated by wind power in France • Centrales de la Haute-Lys SOLAR POWER The biggest solar power 0.1 GWh plant installed in France: Installation, commissioning 6,060 cells end 2006 installed on 8,000 m2 WorldReginfo - 8e66b5f8-9c0e-4d30-b141-4afee9c2e7e9 Contents Editorial . 3 1. Overview of Séchilienne-Sidec Group businesses and geographical locations . 5 2. Key figures . 8 3. History . 10 4. Séchilienne-Sidec Group structure . 12 5. Séchilienne-Sidec Group flow chart . 16 6. Human resources . 17 7. Séchilienne-Sidec Group expertise . 19 8. The technologies used by the Séchilienne-Sidec Group . 20 9. Séchilienne-Sidec Group business locations . 21 10. The Séchilienne-Sidec Group’s economic operating model . 27 11. The Séchilienne-Sidec Group business financing method . 28 12. Risk management . 29 13. Insurance . 32 14. Report on the environment and sustainable development . 34 15. Highlights of the year 2006. Résultats and prospects . 38 16. Financial statements of Séchilienne-Sidec SA . 40 17. Proposal to approve the accounts and allocate profit . 41 18. Other proposals to the Annual General Meeting . 42 19. Corporate governance . 43 20. Proposals to the Extraordinary General meeting . 52 21. Report of the Chairman of the Board of Directors . 54 22. Report of the Auditors on the Chairman’s report . 57 23. Consolidated accounts . 58 24. Report of the Auditors on the consolidated accounts . 91 25. Parent company accounts . 92 26. Report of the Auditors on the company accounts . 106 27. Special report of the Auditors on regulated agreements and commitments . 107 28. Special report of the Auditors on the twelfth resolution . 111 29. Special report of the Auditors on the thirteenth resolution . ..