30th July 2007
Rurelec PLC ("Rurelec" or "the Company"), the owner and developer of power plants in Latin America, announces that Elizabeth Shaw and Mike Eyre, Directors of the Company, have each disposed of 250,000 ordinary shares in the Company to Independent Power Corporation PLC ("IPC") at a price of 55 pence per share. The directors in question continue to hold 250,000 shares each. Each holding represents 0.34 per cent. of the issued share capital of Rurelec.
26th March 2007
Bolivian Subsidiary Guaracachi: Record Results for Year to 31 December 2005. Rurelec to Receive US$3.3 million in Net Dividend
Rurelec today announces that its Bolivian power generation subsidiary, Empresa Guaracachi SA ("Guaracachi"), has released record financial results to the La Paz Stock Exchange for the year ended 31st December 2005. In its 2005 financial year, Guaracachi reported net income before extraordinary items of US$8.41 million. After an extraordinary write down of deferred tax, net income for the period was US$7.92 million, in line with analysts' forecasts. This is Guaracachi's best financial performance since the company was privatised in 1995.
Rurelec PLC announces that its Bolivian power generation subsidiary, Empresa Guaracachi SA ("Guaracachi") has today announced its preliminary results for the year ended 31st December 2006. Rurelec PLC owns 50.001 per cent. of Guaracachi. The shares of Guaracachi are listed on the Bolsa Boliviana de Valores.
Energia del Sur signs loan agreement with Standard Bank of London
Rurelec PLC, the AIM quoted power developer and owner of power plants in Latin America, today announces that Energia del Sur ("EdS"), Rurelec's Argentine power generation business, has signed a loan agreement with Standard Bank of London for US$18 million. The loan is believed to be the first financing for power generation in Argentina since the Peso crash of 2001 and has a limited recourse facility of five years for the conversion to combined cycle gas turbine ("CCGT") operation of the existing 78 MW open cycle gas turbine gas-fired power plant in Commodoro Rivadavia, Patagonia.
Rurelec PLC, the AIM-quoted power developer and owner of power plants in Latin America, today announces that its new General Electric 6FA open cycle gas turbine in Santa Cruz, Bolivia has reached Full Speed No Load ("FSNL") during the current testing and commissioning cycle. The turbine, owned by Rurelec's Bolivian subsidiary, Empresa Guaracachi SA, was installed in less than 15 months and constitutes capacity equivalent to 10 per cent. of Bolivia's total demand for electricity.
Rurelec is pleased to announce the appointment of Frederick G. Fisher III as an independent non-executive Director of the Company with immediate effect.
22nd November 2007
Rurelec plc (AIM:RUR) announces today that its Bolivian subsidiary, Empresa Guaracachi SA ('Guaracachi') has finalised its 96 MW combined cycle gas turbine ('CCGT') expansion project in Santa Cruz de la Sierra.
Guaracachi's CCGT project is the largest single power unit ever to be constructed in Bolivia. At 96 MW of electric output, it will represent more than 10 per cent. of the country's peak demand when completed in early 2009 and it will help alleviate power shortages which have been forecast during the next eighteen months.
Guaracachi has signed contracts to acquire a steam turbine from Steag of Germany which is now being reconditioned by Sulzer Hickham before delivery to Bolivia. At the same time the Board of Guaracachi has approved the selection of IST of Canada as preferred supplier for two heat recovery steam generators ('HRSGs') which comprise the heart of the conversion project. Contract signature is expected by the end of November.