APR Apr Energy

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RNS Number : 5518W

APR Energy PLC

01 February 2012

For Immediate Release 1 February 2012

APR Energy plc ("APR Energy")

Statement on TEPCO contract. No change to market guidance.

APR Energy announces that, due to a change in its strategy, the Tokyo Electric Power Company ("TEPCO") has given notice that it will terminate part of its contract with APR Energy effective March 31, 2012, four months earlier than the originally scheduled termination date of July 31, 2012.

The partial contract termination applies only to the APR installation at the Hitachinaka power station, which comprises 83MW of diesel generators and 50MW of gas turbines. It does not affect the 70MW of APR gas turbines that remain in operation at the Yokosuka site.

Existing contract provisions related to early termination provide for payment of a substantial portion of the remaining rental fees to APR, so that any impact on APR Energy's revenues this year would be marginal.

APR Energy maintains a robust commercial pipeline and is confident of its ability to deploy the MW capacity in other opportunities. In addition, the phased roll-off of the TEPCO contract will enable more efficient asset utilisation.

APR Energy, therefore, remains confident it will deliver financial performance for the 2012 financial year in line with its previous expectations.

Enquiries:

   Citigate Dewe Rogerson Consultancy                                      + 44 (0) 20 7638 9571 

Anthony Carlisle + 44 (0) 7973 611 888

Lydia-Claire Halliday + 44 (0) 7866 617 671

About APR Energy

APR Energy specialises in the sale of reliable and efficient electricity through the rapid deployment of Customised Turnkey Power Solutions globally. APR's power generation solutions, coupled with comprehensive operation and maintenance services and flexible commercial terms, have established APR as a leader in the utility and industrial segments. APR Energy provides power generation solutions to customers and communities around the world, with an emphasis in Africa, South America, Central America and Asia. In addition to its business of providing these world- class power solutions, APR Energy also implements philanthropic projects at each plant location through its Community Development Programme, which aims to build and maintain close relationships with its neighbours through projects and donations in health and education.

This information is provided by RNS

The company news service from the London Stock Exchange

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