APR Energy, a global leader in fast-track power solutions, announced it has signed an extension for its 300 megawatts of contracts in Uruguay, to run through the end of the second quarter 2015.
The extension adds to APR Energy’s record 1,754MW of contract renewals for the year – a success rate of over 90 percent.
As part of the renewal, the group has agreed to grant the customer an option to buy two of its turbines located at the plant site. The transfer of assets would occur post the end of the extended contract.
APR Energy has been in Uruguay serving its customer, Usinas y Trasmisiones Eléctricas (UTE), since 2012. The group’s two plants feature low emission, mobile gas turbines and provide a complementary solution to offset the country’s dependency on hydroelectric power.
Laurence Anderson, chief executive officer, said, “Our Uruguay extension is another example of our continued success in driving contract renewals this year, reflecting the high level of loyalty we have with our customers, the ongoing demand for electricity in the markets we serve and the inherent longevity of the solutions we provide.”