Debt repayment and Update re: Energia del Sur S.A.

RNS Number : 7133L

Rurelec PLC

28 December 2018

 

Rurelec PLC

("Rurelec" or the "Company")

Substantial debt repayment and Update regarding Energia del Sur, S.A.

Substantial debt repayment

The Directors of Rurelec PLC (AIM: RUR), the owner, operator and developer of power generation capacity in South America, announce that they have today repaid £400,000 to Bridge Properties (Arena Central) Limited in respect of clearing outstanding interest payments on short-term loan facilities dated 17 February 2016 and 13 April 2016.

Update regarding Energia del Sur, S.A.

Further to the announcement of 24 September 2018, the Directors of Rurelec PLC have been informed by the management of Energia del Sur S.A. ("EdS"), which owns and operates the 136 MW Southern Patagonian CCGT power plant in Argentina, that the major overhaul of the steam turbine is progressing satisfactorily, and it is estimated to be completed in early January 2019. Whilst this is not guaranteed, the riskier parts of the major maintenance project have been satisfactorily completed and EdS management thus have a high degree of confidence in predicting the start up in the timescale indicated.

A further update will be provided once the plant becomes fully operational. 

For further information please contact:

Rurelec PLC	W H Ireland (Nomad & Broker)
Simon Morris, Director Andy Coveney, Director	Katy Mitchell Chris Viggor
Tel: [phone]	Tel: [phone]

 

END

 

 

MSCUWVRRWBAUUAA