18th Feb 2015 07:50
LONDON (Alliance News) - APR Energy PLC on Wednesday said it has signed a contract renewal for its Iraq power generation deal, taking the term of the contract through to the end of 2015.
The power plant in Basra, southern Iraq, has been in operation since 2012 and comprises six GE TM2500 mobile gas turbines capable of generating more than 120 megawatt of electricity, APR said.
APR bought the site in 2013 as part of the acquisition of General Electric's power rental business.
"I'm very pleased to have renewed this significant contract in Iraq, which follows on the heels of our 135 megawatt contract extension and expansion in Indonesia," said APR Chief Executive Laurence Anderson.
"Our focus following the acquisition of the GE power rental business has been to renew the former GE contracts under more favourable terms or else relocate the assets to higher-value opportunities, and this renewal is very much aligned with that strategy," Anderson added.
By Sam Unsted; [email protected]; @SamUAtAlliance
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