IPSA.L Regulatory News (IPSA)

11 Apr 2007 16:36

IPSA Group PLC11 April 2007 11 April 2007 IPSA Group PLC ("IPSA" or "the Company") Newcastle Cogeneration Plant Update and Standard Bank Loan IPSA, the independent power plant developer with operations in southern Africa,which is quoted on AIM and has a secondary listing on ALTx, today announces thecompletion of the first stage of commissioning of the Newcastle Cogenerationplant with 50 per cent. of the plant now ready to enter commercial operations.First commercial revenues are expected during April 2007. IPSA also announces the successful negotiation of a US$20m loan facility withStandard Bank PLC to fund a portion of the payments due on the turbinespurchased, as announced on 9 March 2007, for the Company's development projectat the Coega Industrial Development Zone, near Port Elizabeth, Republic of SouthAfrica. For further information please contact: Peter Earl, CEO, IPSA Group PLC +44 (0)20 7793 5600 John Llewellyn-Lloyd, Noble & Company Limited +44 (0)20 7763 2200 This information is provided by RNS The company news service from the London Stock Exchange