APR Energy renews 106MW of contracts in Sub-Saharan Africa
-- Includes 40MW contract term extension in Angola
JACKSONVILLE, Florida, Feb. 26, 2015 /PRNewswire/ -- APR Energy, the global leader in large scale, fast-track power solutions, announces today that it has signed 106MW of contract extensions in Sub-Saharan Africa, including an extension on its 40MW Morro Bento power contract in Angola, taking its term into early 2016.
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APR Energy's Morro Bento plant has been in operation since November 2012 and provides critical base load power to Angola's capital city, Luanda. The plant, together with APR Energy's mobile turbine plant in Rocha Pinto, commissioned in June 2014, provides Luanda with a combined 80MW of electricity, serving more than 500,000 people.
The Morro Bento extension follows 66MW of other recent APR Energy renewals in Sub-Saharan Africa, including a term extension through the end of 2015 for its 40MW cross-border contract supplying electricity to Mali, as well as a term extension into Q3 of 2015 for its 26MW of generation capacity in Senegal.
APR Energy's Managing Director for Europe, Middle East and Africa, Ranjit Singh said, "Angola exemplifies our strategy of extending and expanding generation contracts. Building upon our proven operational success, last year we doubled our generation capacity in Luanda by adding a new state-of-the-art mobile gas turbine plant, which we now follow with an extension of our Morro Bento site. Our term extensions in Angola, Mali and Senegal are customer endorsements of APR Energy's ability to deliver sustainable, reliable, efficient and affordable electricity, benefitting communities and supporting economic growth."
Reflecting on the recent extensions, Brian Rich, APR Energy's Chief Operating Officer added, "The 106MW of term extensions in Sub-Saharan Africa reflect the enduring demand throughout the region for our mobile, turnkey solutions and is the result of the outstanding efforts of our people in driving operational excellence and customer satisfaction. These extensions further add to our contract renewal rate, which has exceeded 85% over the past twelve months. Customer renewals are a critical component of APR Energy's business model, adding revenue stability and underpinning strong operational cash flow."
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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