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RNS Number : 7641R

APR Energy PLC

01 July 2015

1 July 2015

APR Energy Agrees to Terms on 300MW Uruguay Project Award

APR Energy plc (the "Company"), a global leader in fast-track power solutions, today announces that it has reached agreement with Usinas y Trasmisiones Eléctricas (UTE), the Uruguayan state power company, for the continuation of its 300MW power generation project through the end of 2015. As with previous contracts with UTE, this is subject to standard government review. In the meantime, APR Energy is operating and meeting UTE's power needs under "tácita reconducción" - a tacit renewal that occurs when a deadline has elapsed and the services continue to be provided and accepted.

Terms of the contract will include an agreement for the continued operation and support of 50MW of legacy gas turbines, which, as announced on 11 November 2014, are under option to purchase by the customer from APR Energy. The Company is working through the process for sale and transfer of these two turbines, targeted for late 2015.

APR Energy has been serving UTE since 2012, using its mobile gas turbine solution to provide bridging power and much-needed reserve capacity, as the region deals with diminished hydroelectric power output resulting from a prolonged drought.

"We are pleased to have agreed terms with UTE for all 300MW of APR Energy generation capacity," said Laurence Anderson, Chief Executive Officer of APR Energy. "UTE has been an outstanding long-term customer during the past three years, and our continued partnership is a reflection of the strong relationship we enjoy and the high quality of service we provide."

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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 fast-track mobile turbine power business. We provide large-scale, fast-track power, providing customers with rapid access to reliable electricity when and where they need it. APR combines state-of-the-art, fuel-efficient technology with industry-leading expertise to provide turnkey power plants that are rapidly deployed, customisable and scalable. Serving both utility and industrial segments, APR Energy provides power generation solutions to customers and communities around the world, with an emphasis on Africa, the Americas, Asia-Pacific and the Middle East. 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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