17 November 2015
APR Energy Signs Extension of 102MW
Myanmar Project Through 2016
APR Energy (LSE: APR) or ("the
Company"), a global leader in fast-track
power solutions, announces today that its
102MW project in Myanmar has been extended through 2016, with
financial terms similar to those in the initial agreement. The
original contract for the plant, signed in February 2014, was the
first agreement between a U.S.-based company and the government of
Myanmar for power generation since the lifting of
sanctions.
The Kyaukse power plant is located
south of Mandalay, the second-largest city in a country where
nearly 42 million people are without access to electricity. The
turnkey facility was installed in just 90 days and is one of the
largest thermal plants in the country, providing enough power to
serve more than six million people.
"We are excited by the continued
opportunity to help power the development of one of Southeast
Asia's fast-growing economies," said Laurence Anderson, Chief
Executive Officer. "As the first U.S. power company to do business
in Myanmar in recent years, we have been fortunate to have
exceptional business partners in Myanma Electric Power Enterprise
and the national government. They have been fully committed to the
success of this project and the role it is playing to enhance the
quality of life for people in Myanmar."
Clive Turton, managing director of
the Company's Asia Pacific region, said: "I would like to
congratulate the Myanmar ministries and staff for their
professional and efficient collaboration with the APR Energy team
to complete this process. We look forward to continuing our
positive cooperation with the Myanma Electric Power
Enterprise."
After initially commissioning 82MW
of generating capacity in April 2014, APR Energy installed an
additional 20MW during the first quarter of 2015 to help offset the
reduction of hydropower during the annual dry season in
spring.
Ends
Enquiries:
APR Energy plc
Lee Munro
(investors)
+ 1 904 404 4576
Manisha Patel
(investors)
+ 1 904 517 5135
Alan Chapple
(media)
+ 1 904 223 2277
CNC Communications
Nick
Bastin
+44 (0) 20 3219 8814 / +44 (0) 7931 500 066
Michael
Kinirons
+44 (0) 20 3219 8803 / +44 (0) 7827 925 090
About APR Energy
APR Energy is the world's leading
provider of fast-track mobile turbine power. Our fast, flexible and
full-service power solutions provide customers with rapid access to
reliable electricity when and where they need it, for as long as
they need it. Combining state-of-the-art, fuel-efficient technology
with industry-leading expertise, our scalable turnkey plants help
run cities, countries and industries around the world, in both
developed and developing markets. For more information, visit the
Company's website at www.aprenergy.com.
Certain statements included in this
announcement constitute, or may constitute, forward-looking
statements. Any statement in this announcement that is not a
statement of historical fact (including, without limitation,
statements regarding the Company's future expectations, operations,
financial performance, financial condition and business) is or may
be a forward-looking statement. Such forward-looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially from those projected or implied in any
forward-looking statement. These risks and uncertainties include,
among other factors, changing economic, financial, business or
other market conditions. Although any such forward-looking
statements reflect knowledge and information available at the date
of this announcement, reliance should not be placed on them.
Without limitation to the foregoing, nothing in this announcement
should be construed as a profit forecast.