JACKSONVILLE, Fla. - APR Energy, a global leader in fast-track power solutions, announces its Interim Management Statement to 29 July 2014, including its three-month trading period, which ended on 30 June 2014.

Year to date, APR Energy has signed 142MW of new contracts, together with contract extensions of 1,063MW, representing a contract renewal rate exceeding 80 percent. This includes the renewal of the first 100MW tranche of the 300MW Uruguay mobile gas turbine contract. Extended until late 2014, the tranche is now aligned with the renewal dates of the remaining 200MW of the contract. Other renewals during the quarter include contracts in Indonesia and Senegal. Post period, the Ministry of Electricity and GECOL have awarded APR Energy an addendum to the 450MW Libyan contract, comprising both the 250MW mobile gas turbine project and the 200MW diesel power module project, extending through first quarter 2015. The Group successfully commissioned three power plants during the quarter. APR Energy's 82MW gas power module plant in Myanmar commenced operations in May, while the new 40MW mobile gas turbine plant in Angola and the 60MW mobile turbine plant in the South Pacific both commenced operations during June.

Average utilization across the first half remained strong at 77 percent, with quarter end utilization of 70 percent. This reflects the timing of the demobilization of the Bangladesh contract, fleet expansion during the period and the termination of the original Australian contract with Forge, which is now being negotiated directly with the Australian utility.

The extension of the full 450MW Libyan contract through the first quarter 2015, together with the first 100MW tranche in Uruguay, positions APR well to meeting their objectives for the year. The expanded fleet provides a solid foundation to grow and will enable APR to capture new large-scale power project opportunities in the pipeline. The Group's partnership with GE continues to mature, and will further enhance our ability to execute our turbine strategy in their chosen markets.

Source: http://otp.investis.com/clients/uk/aprenergy/rns/regulatory-story.aspx?cid=311&newsid=436280
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