Summary of RAME29 Dec 2014 12:15
Rame Energy plc is an established revenue generative global supplier of cost effective, technically optimised and reliable power generation solutions including wind, solar and diesel to blue chip clients such as Akzo Nobel, Anglo American, Barrick Gold and Codelco. Operating since 2002, the Company's Engineering Services Division applies its broad in-house expertise to produce technology optimised, cost effective energy solutions for private customers, in particular power intensive heavy industries such as mining, as well as providing general marine engineering services. This division's capabilities were recently bolstered through the acquisition of the UK's longest established solar businesses. The Company joined AIM in Q2 2014 to give it access to the capital markets in order to accelerate its objective of becoming an Independent Power Producer ('IPP'). Rame is targeting an operational portfolio of 300MW in Latin America within three years. The Company plans to build on its proven track record of delivering power in South America where it has been involved in the development of approximately 23% of Chile's installed wind power capacity (as at 31 December 2013). Accordingly, Rame has executed its first joint venture agreement with Santander Investment Chile Limitada to co-finance its first two wind projects totalling 15 MW, in which Rame has a 20% equity participation. The debt package for the two projects is being provided by Chilean bank, Banco BICE. The Company also has a Small Scale Generation Division, which builds 500k - 9MW wind/ solar/ diesel projects for on and off grid private power sales.
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