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7 Nov 2014 11:00
7 November 2014
Update on Libya
APR Energy plc (LSE: APR), a global leader in fast-track power solutions, today advises that post market close on 5 November 2014, it has temporarily suspended electricity generation in Libya while necessary paperwork is completed through the Libyan parliamentary review process.
As announced on 29 July 2014, the Group was formally awarded an extension by its customer, GECOL, for its 450MW Libyan contract, taking the term through the first quarter of 2015. The Group is in the final stages of a multi-step confirmation process for the signed contract addendum, but has experienced continued delays in the final parliamentary review process.
APR Energy continues to have a good relationship with its customer, GECOL, which is working to help expedite completion of the necessary paperwork reviews and confirmation.
The Group's plants remain on standby to begin dispatching power at normal contracted levels as soon as the matter is resolved.
Enquiries:
APR Energy plc
Karen Menzel +44 (0) 777 590 6076
Capital MSL
Richard Campbell +44 (0) 20 3219 8800 / +44 (0) 7775 784 933
Richard Gotla +44 (0) 20 3219 8819 / +44 (0) 7904 122 207
About APR Energy
APR Energy is a global leader in large-scale, fast-track power solutions, 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.
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