7th Apr 2015 10:19
LONDON (Alliance News) - IPSA Group PLC said Tuesday that its subsidiary Newcastle Cogeneration Pty Ltd signed an extension of its power purchase deal with South Africa's state electricity company Eskom.
The extension is for an initial period of a year, but may be further extended for two subsequent periods of two years each if Eskom gets the required regulatory approvals.
"We are pleased that the PPA extension has been signed and the plant is able continue in operation. With this behind us, we plan to resume our expansion programme," said Acting Chief Executive Officer Peter Earl in a statement.
Shares in IPSA Group are untraded Tuesday. It last closed at 1.63 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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