18th Aug 2014 08:25
LONDON (Alliance News) - Rame Energy PLC Monday said its Beco Ltd subsidiary has signed a partnership agreement in Pakistan and said environmental approval has been received for the Punta Chome wind farm project in Chile.
Beco, a wholly-owned subsidiary of the energy consultant, engineer and power generator, has signed a memorandum of understanding with Vital Tech Engineering & Services Ltd (VTE), an engineering firm based in Pakistan. Beco was acquired by Rame for GBP150,000 in June.
Under the deal, Beco would provide off-grid, renewable energy-based power supply systems for a range of applications which would be installed and maintained by VTE.
"The MOU represents a significant opportunity to deploy our expertise in off-grid renewable energy based power systems into Pakistan," said Beco Managing Director Nigel Brunton-Reed.
"This agreement with VTE gives us immediate access to a large potential customer base where our proven technology can provide significant benefits.
Meanwhile, Rame said CGE Distribucion, Rame's sub-contractor on the Punta Chome wind project, has advised that environmental planning approval has been received for the site.
"The granting of the environmental permit for the export power line at Punta Chome represents another positive step towards the construction of this wind project in Chile, and brings us closer to our stated targets of having in excess of 100 MW of power generating capacity installed and in operation in Chile by the end of 2015 and 300 MW within three years," said Pieter D'haen, Chief Operating Officer of Rame.
Rame Energy shares were untraded early Monday, quoted at 19.25 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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