Swedish Stirling Signs Agreement With South African Ferrochrome Producer

STOCKHOLM, Feb. 19, 2020 /PRNewswire/ -- Swedish Stirling AB ("Swedish Stirling") and a South African ferrochrome producer have today signed an energy conversion service agreement for the installation of up to 25 PWR BLOK 400-Fs (9.9 MW).

Swedish Stirling has earlier announced that it had signed an exclusive agreement with one of South Africa's largest ferrochrome producers - granting Swedish Stirling the right to finalize negotiations in an agreement regarding an energy conversion service with the PWR BLOK. Today, the parties have signed an energy conversion service agreement for an installation of up to 25 PWR BLOK 400-Fs (9.9 MW) at a power generation facility in South Africa. The exact number of PWR BLOKs will be determined when the first three units are operational and the amount of residual gas from the plant is established. At completion, a 25 PWR BLOK unit is estimated to generate annual revenue for Swedish Stirling of MSEK 40 (3.75 MEUR).

The first PWR BLOK will be commissioned by 31 May 2021. The energy conversion service agreement runs for eight years from the time the  facility is fully developed. The facility will be owned and operated through a special purpose vehicle (SPV), established and controlled by Swedish Stirling.

CONTACT:

Sven Ljungberg
CCO
Swedish Stirling AB
+46-(0)31-385-88-30
ir@swedishstirling.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/swedish-stirling/r/swedish-stirling-signs-agreement-with-south-african-ferrochrome-producer,c3038862

The following files are available for download: