24th Jun 2022 10:07
Prospex Energy PLC - exploration investment company with core investments in Spain and Italy - Begins the first of two projects at El Romeral power plant in southern Spain to diversify its solar generation. The installation of solar panels on the roof of the plant is expected to complete by the end of July. This, it adds, will increase sales of electricity from the plant and give it a total installed peak capacity of 41.5 kilowatt hours. Prospex holds a 50% working interest in El Romeral through its interest in Tarba Energia SL. Cost of installation is EUR50,000 and has been financed from funds from Tarba.
Prospex says that El Romeral is providing "very healthy" income from selling electricity in Spain. Daily electricity prices are expected to average EUR150 per megawatt hour in the coming twelve months. The plant is operating 24 hours a day, seven days a week.
At Project Helios, the second solar generation project, the company commences front-end engineering and design studies.
Current stock price: 4.35 pence, down 2.3% in London on Friday
12-month change: up 64%
By Heather Rydings; [email protected]
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