APR Energy 250MW Extension in Uruguay Gains Final Signature, Approval

APR Energy plc, a global leader in fast-track power solutions, today announces final signature and government approval of the extension of its 250MW power generation project through the end of 2015 with Usinas y Trasmisiones Eléctricas (“UTE”), the Uruguayan state power company. The approved contract terms and conditions are unchanged from the agreement announced on 1 July, including the pending sale of 50MW of gas turbines. In that announcement, the Company reported that it had reached agreement with UTE on the terms of the extension, and was awaiting completion of the standard government review.

APR Energy has been serving UTE since 2012 through two power plants, located in La Plata and Punta del Tigre. The mobile gas turbine solution provides bridging power while a permanent generating facility is being constructed as well as much-needed reserve capacity as the region deals with diminished hydroelectric power output resulting from a prolonged drought.

“UTE has been an outstanding, long-term customer, and their decision to extend our projects five times is a reflection of the high quality of service we provide and the reliability of our technology,” said Chief Executive Officer Laurence Anderson. “The decision by UTE underscores the fact that our fast-track mobile solutions are an ideal source of interim power during construction of permanent infrastructure.”