Rame Energy PLC Sale of 15MW Raki and Huajache Wind Projects (9319K)
06 Enero 2016 - 1:00AM
UK Regulatory
TIDMRAME
RNS Number : 9319K
Rame Energy PLC
06 January 2016
6 January 2016
Rame Energy plc
("Rame" or the "Company")
Sale of 15MW Raki and Huajache Wind Projects, Chile
Rame Energy plc, the AIM quoted independent power producer and
power project developer, is pleased to announce the sale of its
combined 15MW Raki / Huajache on-grid wind projects (the
"Projects") in which it has a 20 per cent equity holding. The sale
to InterEnergy Holidings, a leading Cayman based owner of power
generation and distribution assets in Latin America and the
Caribbean, is subject to certain conditions precedent and the
Company anticipates that all the required conditions will be met by
the end of January 2016 ("Completion").
Rame developed these projects from greenfield through to
construction and commissioning of the Projects in H2 2015, in
partnership with Santander Investment Chile Limitada ("Santander").
These are the first projects to be completed by Rame since the
Company completed its IPO in April 2014, and are the first to be
disposed of by Santander in Chile. The Company expects to receive
proceeds from the sale of approximately $4.4 million which will be
used for the continued development of the Company's other wind and
solar projects in Chile and for general working capital
purposes.
CEO Tim Adams said "We are delighted with the sale of the Raki
and Huajache projects. Our estimated gain of approximately 50% of
our investment over the period of 20 months demonstrates Rame's
ability to deliver substantial returns in a relatively short time
frame. It will also facilitate our internal strategy of capital
recycling to accelerate the development of some of the more mature
projects within our development pipeline.
"There is currently strong global demand for power generating
assets backed by investment quality power purchase agreements in
stable countries. Rame is well placed to take advantage of this
demand as it continues to develop projects either for sale or as
part of our growing IPP business and we are encouraged to see other
international IPPs actively acquiring assets in Chile which we
believe, as a US$ denominated power market with no support
mechanisms for renewables power production, will remain attractive
for the medium term at least."
For further information, please visit the Company's website,
www.rame-energy.com or contact:
+44 (0) 1752
Rame Energy plc 565638
Tim Adams, Chief Executive Officer
Kevin McNair, Chief Financial
Officer
Cantor Fitzgerald Europe (Nominated Adviser and Broker, Financial Adviser in relation to the
sale of the Projects) +44 (0) 20 7894 7000
Andrew Craig / Will Goode /Richard Salmond
Tavistock (Financial PR) +44 (0) 20 7920 3150
Simon Hudson / James Collins / Claudia Esnouf
About Rame Energy
Established in 2002, Rame Energy is an experienced Independent
Power Producer (IPP) that seeks to create value for its
stakeholders by developing a portfolio of high yielding renewable
energy projects. We specialise in engineering on-grid and off-grid
wind, solar and hybrid power solutions. Our primary market focus is
Chile, where energy demand outstrips supply, creating conditions
that make the country highly favourable for renewable power
projects.
-ends-
This information is provided by RNS
The company news service from the London Stock Exchange
END
DISEAXFSEFAKEFF
(END) Dow Jones Newswires
January 06, 2016 02:00 ET (07:00 GMT)
Rame Energy (LSE:RAME)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Rame Energy (LSE:RAME)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024