Rurelec PLC Update Regarding Energia del Sur, S.A. (0238R)
September 18 2017 - 5:18AM
UK Regulatory
TIDMRUR
RNS Number : 0238R
Rurelec PLC
18 September 2017
Rurelec PLC
("Rurelec" or the "Company")
Update regarding Energia del Sur, S.A.
Further to the announcement of 8 September 2017 The Directors of
Rurelec (AIM:RUR), have been informed that the management of
Energia del Sur S.A., which owns and operates the 136 MW Southern
Patagonian CCGT power plant in Argentina have begun a temporary
modification of the steam turbine to remove certain rows of turbine
blades ahead of repairs during planned maintenance in 2018.
If successful, this will allow the power station's gas and steam
turbines to resume operation within approximately two weeks, albeit
with a reduced power output on the steam turbine. Such output
reduction will only be known with certainty on resumption of
operations but is expected to be no more than 30% reduction in the
steam turbine output. The modification will allow the plant to
continue to run in a combined cycle configuration. EdS management
is confident this solution will work but in the unlikely event that
it does not, EdS has also begun constructing exhaust stacks, as a
contingency measure, to allow the power station to run in open
cycle in the short term using just gas turbines, at a maximum net
output of 74MW.
The Directors anticipate that the interruption will have a short
term adverse effect on cash generation within EdS and thus debt
repayments to RPFL will put more of a strain on EdS in the short
term than previously expected. The Directors cannot precisely
quantify the effect on Rurelec until the problem has been
successfully resolved.
For further information please contact:
Rurelec PLC W H Ireland
Simon Morris, Director Paul Shackleton and James Bavister
Andy Coveney, Director
Tel: 020 7025 8026/8 Tel: 020 7220 1666
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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