Archive for the ‘energy’ Category

Parkland Fuel Corporation to Acquire 75% of SOL, the Largest Independent Fuel Marketer in the Caribbean

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Transformational Business Combination Establishes Strong International Growth Platform; SOL’s Simpson Group to Own 9.9% of Parkland

CaribPR Wire, CALGARY, Alberta, Oct. 10, 2018: Parkland Fuel Corporation (“Parkland”, “We”, “Our” or “Us”), (TSX:PKI) Canada’s largest and one of North America’s fastest growing independent marketers of fuel and petroleum products and a leading convenience store operator, and SOL Limited have entered into an agreement to complete a business combination (the “Business Combination” or “Transaction”) between Parkland and SOL Investments Limited (“SIL”) and its subsidiaries (collectively, “SOL”).  A privately-held company owned by the Simpson Group, SOL is the largest independent fuel marketer in the Caribbean and a wholly-owned subsidiary of SOL Limited.

SOL supplies and markets a total of 4.8 billion liters of fuel volume annually across 23 countries in the Caribbean and generated US$215 million (approximately C$280 millioni) in adjusted earnings before taxes, depreciation and amortization (“Adjusted EBITDA”) in the 12-month period ending June 2018.

The Transaction will result in Parkland acquiring 75% of the issued and outstanding shares in the capital of SIL (the “SIL Shares”) for total consideration of US$1.21 billion (approximately C$1.57 billion) plus customary post-closing adjustments on a cash-free and debt-free basis (the “Purchase Price”), and SOL Limited acquiring 12.16 million common shares in the capital of Parkland (the “Parkland Shares”).  This equates to a purchase price multiple on the 75% equity interest in SOL of approximately 7.5x Adjusted EBITDA, excluding working capital. Upon closing the Simpson Group, through its ownership in SOL Limited, will own approximately 9.9% of the issued and outstanding shares in Parkland and its intention is to remain a long-term investor in Parkland. The Transaction is expected to be immediately accretive to Parkland’s distributable cash flow per share by approximately 17% (pre-synergies).

The remaining 25% of the shares outstanding in SIL are subject to the Minority Purchase/Sale Right (as defined below) pursuant to which Parkland may elect to acquire or SOL Limited may elect to sell the remaining shares in the capital of SIL. Based on SOL’s Adjusted EBITDA for the 12-month period ending June 2018, the Adjusted EBITDA attributable to Parkland from the 75% ownership stake in SOL would have been US$161 million (approximately C$210 million), representing 75% of SOL’s Adjusted EBITDA for the period.

Parkland President and CEO Bob Espey said, “The addition of SOL will extend our global supply reach and enable us to continue to build our supply advantage to benefit our entire business. With its integrated supply chain backed by an extensive distribution network, fortress assets, a premier brand portfolio and an exceptional team, SOL has built a strong market position with unparalleled regional scale.  Together, Parkland and SOL create a significant North American and Caribbean growth platform. We are delighted to partner with the Simpson Group and welcome the opportunity to work with SOL’s strong management team to optimize and grow SOL’s industry leading retail and supply network through our combined scale and expertise.”

Sir Kyffin Simpson, CBE, Founder of SOL Limited said, “I am exceptionally pleased to announce the coming together (Business Combination) of Parkland and SOL, which will ensure an exciting and dynamic future for everyone.  With a desire to continue to develop and grow the business through expansion in new areas, I am extremely blessed to bring in our good friends Parkland of Canada to the Caribbean.  I have long admired Parkland as a company with their futuristic vision and energy, and I have been tremendously impressed with Bob Espey’s strong leadership along with his exceptional management team.”

“I am truly confident that this coming together with the fantastic team at SOL will be a complementary blend of cultures, ideas, technology and innovation.  I am convinced that Parkland and SOL are perfectly matched to develop new and exciting opportunities, with renewed energy that will provide excellent avenues for the development of our people that will in turn enhance our customer experience and open new doors for great synergies and improved logistics.  With forty-three million people and a GDP of more than US$200 billion, this is the perfect time to take advantage of the tremendous opportunities that abound in the Caribbean.”

“This coming together will also provide a big boost of confidence for regional investment opportunities and we are happy to do our part in this regard.  Please therefore join with me in welcoming this wonderful team and organization to the region.   I pray God’s richest blessings on this coming together and I look forward to what the future has in store for us all.”

Chief Financial Officer Mike McMillan said, “The scale of the pro-forma business combined with the strong cash flow from operations and operational synergies expected from SOL will further strengthen Parkland’s balance sheet and capital structure.  The financing for the Transaction will enable Parkland’s pro forma total leverage ratio to remain below 3.5x.  In addition, Parkland will be in a strong position from a balance sheet and capital structure perspective to continue to execute on our growth strategies.”

Key Highlights

  • The addition of stable earnings from 526 retail stations (266 company-owned or company-leased sites and 260 dealer owned and operated sites);
  • Provides an opportunity to roll out Parkland’s private label, loyalty and enhanced food offer;
  • Positions Parkland to access supply at scale in the US Gulf Coast, creating future growth opportunities and supply advantage in the US Gulf and Atlantic coasts for Parkland USA (in addition to our continued focus on the US Northern Tier and Rocky Mountain regions);
  • Total identified annual run-rate synergies of approximately 20% of SOL’s Adjusted EBITDA over the next three years;
  • Pro forma net debt to Parkland Adjusted EBITDA of approximately 3.2x on a consolidated basis with a strong deleveraging profile; and
  • The SOL operating brands will remain in place, and the SOL business will retain key management and continue to be managed from the Caribbean.

Parkland and SOL Limited, the sole shareholder of SIL, will enter into a shareholders agreement that grants a call right for Parkland and put right for SOL Limited (collectively, the “Minority Purchase/Sale Right”), pursuant to which Parkland may elect to acquire or SOL Limited may elect to sell the remaining 25% portion of the issued and outstanding shares in the capital of SOL (the “Remaining Shares”) at a value of 8.5x the Adjusted EBITDA of SOL based on the then current audited financial statements.  The Minority Purchase/Sale Right will be exercisable by either party for a period of 90 days following the release by Parkland of its audited financial statements for the fiscal year ended December 31, 2020 (or December 31, 2021 in the event that closing does not occur on or before December 31, 2018).  The Minority Purchase/Sale Right will be exercisable annually thereafter by either party for a period of 90 days following the release by Parkland of its audited annual financial statements.

The Transaction is subject to the receipt of customary third-party consents and regulatory approvals, including approval of the Toronto Stock Exchange.  Closing of the Transaction is expected to occur in late Q4 2018.

Strategic Rationale

  • Through strategic acquisitions and organic growth, SOL has built ‘fortress assets’ in stable markets across the region;
  • SOL is the largest independent fuel marketer and convenience store operator in the Caribbean region, with more than 4.8 billion liters of annual volume and approximately US$215 million (approximately C$280 million) in estimated Adjusted EBITDA (excluding expected synergies);
  • Provides comprehensive and key infrastructure in the Caribbean region to extend and enhance Parkland’s supply advantage and expertise;
  • Adds significant scale to Parkland’s retail and supply businesses;
  • Provides increased exposure to stable earnings across multiple lines of business;
  • Provides diversification from the North American market;
  • Significantly contributes to Parkland’s US dollar cash flows;
  • Positions Parkland to access supply at scale in the US Gulf Coast, creating future growth opportunities and supply advantage in the US Gulf and Atlantic coasts for Parkland USA;
  • Supports acquisition and expansion opportunities in the Caribbean region and broader Americas; and
  • Opens Parkland’s business to global supply advantages to benefit existing and future business opportunities.

SOL Retail Business

  • Represents approximately 2.0 billion liters of annual volume with operations in 20 countries;
  • Includes 526 retail stations (266 company owned or company leased sites and 260 dealer owned and operated sites); and
  • Operates 197 Shell-branded retail stations and 163 ESSO-branded retail stations and enjoys a long-standing relationship with both premier retail brands in the Caribbean.  SIL also operates 93 SOL-branded stations, which enjoy excellent recognition in the Caribbean.

SOL Supply and Distribution Business

  • SOL’s infrastructure assets include 32 import terminals, 7 pipelines, 3 marine berths and 10 charter ships;
  • Enables SOL to achieve superior supply economics in the Caribbean region as it is the largest fuels marketer with an integrated supply chain;
  • Primary objective is to supply the SOL marketing business and any spare capacity is sold to third parties;
  • Chartered vessel fleet provides SOL with inter-island transportation and distribution capabilities;
  • Owned and leased terminals enable intermediate storage for large fuel cargoes across the region;
  • Geographically close to US Gulf Coast supply, one of the longest refined product markets in the world;
  • Ownership of 29% non-operating financial stake in the entity that owns and operates the SARA Refinery located in Fort-de-France, Martinique (the “SARA Refinery”).  The capacity of the SARA Refinery is 16,000 thousand barrels per day; and
  • SARA Refinery owns and operates all the pipelines, ships and terminals required to supply refined products to Guadeloupe, French Guiana and Martinique.

SOL Commercial and Industrial Business

  • Represents approximately 1.8 billion liters of annual volume with operations in 21 countries;
  • Supplies gasoline, diesel, fuel oil, LPG (propane) and other petroleum products to commercial and industrial customers in the mining, power generation, manufacturing, construction, transport and hospitality industries;
  • Lubricants segment represents 21 million liters of annual volume and operations in 18 countries;
  • Distributes Shell and Pennzoil-branded lubricants and is the largest licensed distributor of Shell-branded lubricants in the Caribbean;
  • LPG (propane) segment represents 47 million liters of annual volume and operations in 10 countries;
  • Distributes LPG (propane) direct to customers under the highly recognizable SOL Energy brand; and
  • Distributes LPG (propane) to other distributors and governments under various supply agreements.

SOL Aviation Business

  • Represents approximately 600 million liters of annual volume with operations in 13 countries;
  • Operates in most countries through joint ventures with various third parties.  Joint ventures are structured to enable maximum utilization of high cost fixed assets; and
  • Jointly owns airport terminals and infrastructure in several markets.

Parkland Financing

The Transaction and related fees and expenses will be financed by Parkland with a fully underwritten financing package:

  • Debt financing of approximately C$1.1B underwritten by Canadian Imperial Bank of Commerce and National Bank of Canada as Co-Lead Arrangers and Bookrunners consisting of:
    • C$470 million of senior secured bank debt, a US$250 million (approximately C$325M million) term loan and a term facility of C$300 million.
  • SOL Limited will provide approximately C$518 million of equity financing through its investment in Parkland:
    • Parkland will issue 12.16 million Parkland shares to SOL Limited from treasury as partial consideration for the Business Combination at a price of approximately C$42.62 per share, representing the 5-day volume-weighted average price of Parkland’s common shares on the Toronto Stock Exchange as of market close on October 9, 2018.  After closing, SOL Limited will own approximately 9.9% of the issued and outstanding common shares in Parkland.

Parkland expects to replace the term facility with alternative longer-term debt prior to the closing of the Transaction.

Investor Event and Conference Call Information

Parkland will host a webcast and conference call at 6:30 AM MT (8:30 AM ET) on October 10, 2018 to discuss the Transaction.  Parkland’s Senior Leadership Team will be available to take questions from securities analysts and investors following their formal comments.

Please log into the webcast slide presentation 10 minutes prior to start time at:

Webcast: https://edge.media-server.com/m6/p/gxyt5yny

To access the conference call by telephone, dial toll-free (844) 889-7784.  International callers should use (661) 378-9928, Conference ID: 1558797.  Please connect approximately 10 minutes before the beginning of the call. The webcast will be available for replay one hour after the conference call ends. It will remain available at the link above for one year and will be posted to www.parkland.ca.

A link to the live webcast and investor presentation will be available on the Investors section of Parkland’s website at  http://www.parkland.ca/investors/.

If you are unable to participate in the call, a replay will be available by dialing (855) 859-2056, Conference ID: 1558797 (Canada and USA toll-free). For international callers, please dial (404) 537-3406, Conference ID: 1558797.  A transcript of the broadcast will be posted on the website once it becomes available.

About Parkland

Parkland is Canada’s largest and one of North America’s fastest growing independent suppliers and marketers of fuel and petroleum products and a leading convenience store operator.  Parkland services customers through three channels: Retail, Commercial and Wholesale.  Parkland optimizes its fuel supply across these three channels by operating the Parkland Burnaby Refinery, and leveraging a growing portfolio of supply relationships and storage infrastructure.  Parkland provides trusted and locally relevant fuel brands and convenience store offerings, including its On the Run/Marché Express banners, in the communities it serves.

Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully.  At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.

About SOL

By providing fuels, lubricants, LPG products and an extensive network of service stations, SOL enables the energy that keeps the heart of our region beating. SOL is the largest independent petroleum marketing company in the Caribbean region and is committed to supporting and empowering the communities in which it operates.

With operations spanning across twenty-three territories, SOL’s highly qualified team reflects the talent, spirit and diversity of the region. SOL serves a wide range of commercial customers who are involved in shipping, luxury boating, aviation, mining, trucking and fleet operations, as well as families and individuals – hard working men and women who need a reliable partner to fuel their vehicles, homes and lives.

Advisors

Deloitte provided transaction services in respect of the Business Combination.

National Bank Financial Inc. served as financial advisor to Parkland.

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information and statements (”collectively, “forward-looking statements”). Many of these forward-looking statements can be identified by words such as “believe”, “expects”, “expected”, “will”, “intends”, “projects”, “projected”, “anticipates”, “estimates”, “continues”, “objective” or similar expressions and include, but are not limited to, statements regarding Parkland’s expectation of its future financial position, business and growth strategies and objectives, sources of growth, capital expenditures, financial results, future financing and the terms thereof, future transactions and the efficiencies to be derived therefrom, the successful completion of the Transaction and the timing thereof, the accretive impact of the Transaction (including the expected impact to Parkland’s distributable cash flow per share), the expected benefits resulting from the Transaction including Parkland’s leverage pro forma following the Transaction, Adjusted EBITDA of the business acquired in the Transaction, the Simpson Group’s intentions with respect to its ownership of Parkland, future projections of Adjusted EBITDA, the contribution to EBITDA and/or Adjusted EBITDA from the Transaction, volumes and gross margins expected to be derived from the Transaction, expected synergies and growth opportunities (including geographic areas of potential growth) resulting from the Transaction, the number of Parkland Shares to be issued as partial consideration for the Transaction, expected exercise of the Minority Purchase/Sale Right and the terms thereof, sources of financing for the Transaction, the ability of Parkland to refinance indebtedness under its term facility, Parkland’s expected pro forma total leverage, strength of Parkland’s balance sheet and capital structure pro forma the Transaction and Parkland’s continued ability to execute on its growth strategies. Parkland believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The forward-looking statements contained herein are based upon certain assumptions and factors including, without limitation: historical trends, current and future economic and financial conditions, and expected future developments. Parkland believes such assumptions and factors are reasonably accurate at the time of preparing this press release. However, forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties some of which are described in Parkland’s Annual Information Form dated March 9, 2018 (”AIF”) and other continuous disclosure documents. Such forward-looking statements necessarily involve known and unknown risks and uncertainties and other factors, which may cause Parkland’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors include, but are not limited to, risks associated with: the failure to achieve the anticipated benefits of the Transaction, the aggregate amount of any adjustments to the Purchase Price, the ability to secure funding to finance the consideration payable upon the exercise of the Minority Purchase/Sale Right, expansion of Parkland’s business into the Caribbean, the ability of suppliers to meet commitments, failure to retain key management, failure to execute on plans to deleverage the combined Parkland business, failure to obtain necessary regulatory or other third party consents and approvals required to complete the Transaction, failure to complete the Transaction, failure to secure alternative sources of funding to the term facility on terms acceptable to Parkland, failure to meet financial, operational and strategic objectives and plans, general economic, market and business conditions, industry capacity, failure to realize anticipated synergies from the Transaction, the operations of Parkland’s assets, competitive action by other companies, actions by governmental authorities and other regulators including increases in taxes, changes and developments in environmental and other regulations, and other factors, many of which are beyond the control of Parkland. There is a specific risk that Parkland may be unable to complete the Transaction in the manner described in this press release or at all. If Parkland is unable to complete the Transaction, there could be a material adverse impact on Parkland and on the value of its securities. Any forward-looking statements are made as of the date hereof and Parkland does not undertake any obligation, except as required under applicable law, to publicly update or revise such statements to reflect new information, subsequent or otherwise. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Readers are directed to, and are encouraged to read the risks and uncertainties described in “Forward-Looking Statements” and “Risk Factors” included in Parkland’s AIF and in “Forward-Looking Statements” and “Risk Factors” included in Parkland’s management discussion and analysis for the year ended December 31, 2017 (the “MD&A”) and for the three and six months ended June 30, 2018 (the “Q2 2018 MD&A”), as such information is incorporated by reference herein, each as filed on SEDAR at www.sedar.com and available on the Parkland website at www.parkland.ca.

Non-GAAP Financial Measures

This press release refers to certain financial measures that are not determined in accordance with International Financial Reporting Standards (“IFRS”). Net debt to Adjusted EBITDA and distributable cash flow per share are not measures recognized under IFRS and do not have standardized meanings prescribed by IFRS.  Other issuers may calculate these non-GAAP measures differently.  Parkland considers these to be important supplemental measures of Parkland’s performance and believes these measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in its industries.

In reference to Parkland’s Adjusted EBITDA, Adjusted EBITDA is a measure of segment profit and is considered to be forward-looking information in this document. See Section 12 of the Q2 2018 MD&A and Note 14 of the Interim Condensed Consolidated Financial Statements for a reconciliation of this measure of segment profit.

In reference to SOL’s Adjusted EBITDA, Adjusted EBITDA refers to the agreed-upon normalized earnings before income taxes, depreciation and amortization of SOL for the purposes of this Transaction, is considered to be forward-looking information in this document, and does not represent Parkland’s definition of Adjusted EBITDA.

Investors are encouraged to evaluate each adjustment and the reasons Parkland considers it appropriate for supplemental analysis.  Readers are cautioned, however, that these measures should not be construed as an alternative to net income determined in accordance with IFRS as an indication of performance. The financial measures that are not determined in accordance with IFRS in this press release are expressly qualified by this cautionary statement. Parkland believes these financial measures based are on such information that is reasonable but no assurance can be given that these expectations will prove to be correct and such figures should not be unduly relied upon.

To sign up for Parkland news alerts, please go to https://goo.gl/mNY2zj or visit www.parkland.ca.

___________________________

i All figures converted between USD and CAD using an exchange rate of US$1.0 = C$1.3

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GENERAC: 7 Benefits of Investing in a Backup Power Generator

MEXICO CITY, Nov. 21, 2017 /PRNewswire-HISPANIC PR WIRE/ — The following statement was issued by Frank Moreno, Sr. Director Marketing Latin America, Generac:

If you run a company, you should consider the massive benefits from having a backup power system. Not only do you save money, in the long-term, you will keep yourself from worrying and wasting energy. If you are considering the possibility of purchasing a generator for your business, please keep in mind the following:

  1. Backup Generators Can Act in a Matter of Seconds. Blackouts and power outages can last for several days when the utility company is experiencing problems of some kind. However, with a backup generator, it will only be a few seconds before the generator starts feeding your company or business.
  2. Prevent Food Decomposition and Loss. Corporate canteens, catering businesses or restaurants could suffer major economic losses if the food that needs to be refrigerated is left without protection when the power goes out.
  3. When the Power Returns, the Transition will be Smooth. Since the equipment (typically) remains in operation for several minutes after the main source of energy has been restored, some problems are avoided, such as the voltage variations that occur when power comes back. Once the network is stable, and the engine has cooled down a bit, the emergency generator shuts down, and is then ready for any new incident.
  4. There will be no Interruptions in your Security System. With an emergency generator that goes live in a matter of seconds, you can rest assured that your company or business will remain protected, thus preventing burglary and looting in the event of a blackout or a natural disaster.
  5. Your Operations will Continue, Even During Long Outages. You can do computer work, presentations, meetings and teleconferences even during long power outages. With a backup generator, you don’t even have to get up from where you are, or to interrupt your activities.
  6. You and your employees will remain Connected to the World at all Times. Forget about being left in isolation, in the event of power failures and natural disasters your telecommunications will not be affected.
  7. You Never Know When Will you Need Backup Power. The electricity supply may be unexpectedly affected for many reasons: harsh climate, trees that fall on the distribution lines, natural disasters or even rodents that bite the wires.

http://www.infosol.com.mx/proyectos/generac/7-benefits-of-Investing-in-a-backup-power-generator.html

http://www.infosol.com.mx/proyectos/generac/7-benefitsb-of-investing-in-a-backup-power-generator.docx

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APR Energy Helps to Restore Critically Needed Power in Puerto Rico

JACKSONVILLE, Fla., Oct. 31, 2017 /PRNewswire-HISPANIC PR WIRE/ — When natural disasters knock out critical power supplies, customers around the world count on APR Energy to deliver large-scale power fast. The latest is hurricane-ravaged Puerto Rico, where APR Energy has commissioned two mobile gas turbines and connected them to the local power grid just 15 days after its equipment arrived on site.

Photo – https://mma.prnewswire.com/media/593850/APR_Energy_Puerto_Rico_plant.jpg

The fast-track solution features two new GE TM2500 Gen 8 mobile gas turbines, which will help to restore power in the San Juan area and stabilize the power grid, reducing the risk of outages.

“We are honored to be able to help the people of Puerto Rico at this extremely difficult time. Our company has provided emergency power after disasters such as the earthquake and tsunami that devastated Japan in 2012, and we know how critical it is to restore electricity as quickly as possible,” said APR Energy Chairman John Campion. “I am extremely proud of our team for getting this plant up and running in just 15 days, one of the fastest installations ever for the TM2500.”

On October 13 – the day after the contract was signed with U.S. Army Corps of Engineers contractor Weston Solutions – APR Energy’s turbines arrived at the port of San Juan. The following day, they were transported to the Palo Seco power plant for installation.

“APR Energy is committed to helping Puerto Rico for as long as necessary, and we stand ready to provide additional generating capacity and grid stability support as requested,” Campion said.

The Puerto Rico project uses the newest generation of GE’s turbine technology found in jet aircraft engines. The fuel-flexible turbines offer a higher power density and lower emissions than competing solutions using diesel reciprocating engines, as well as the ability to switch from diesel to natural gas if necessary.

As the world’s leading provider of mobile turbine power, APR Energy has used the technology to generate electricity on other Caribbean islands including Martinique and St. Thomas in the U.S. Virgin Islands. On St. Thomas, where the company has operated since 2012, its highly reliable TM2500 turbines continued to provide electricity to island residents while much of the power generation in other parts of the Caribbean was knocked out following Hurricane Irma in early September and Maria two weeks later.

More than 200 mobile and trailer-mounted TM2500s have been deployed globally and in some of the most extreme conditions on Earth, including the deserts of Africa and remote communities in Asia. Based on GE’s proven LM2500 product family with over 90 million operational hours of experience, the TM2500 can be transported via land, sea or air and can be commissioned in days. It can ramp up to full power within minutes to support grid security during periods of high demand, and the latest TM2500 unit can generate more than 35MW of power using gas and/or distillate liquid fuels for greater flexibility.

About APR Energy
APR Energy is the world’s leading provider of fast-track mobile turbine power, and has installed over 4,200MW of power capacity across more than 30 countries. Our fast, flexible and full-service solutions provide customers with rapid access to reliable electricity when and where they need it, for as long as they need it. Combining state-of-the-art, fuel-efficient technology with industry-leading expertise, our scalable turnkey plants help run cities, countries and industries around the world, in both developed and developing markets. For more information, visit the Company’s website at www.aprenergy.com.

APR Energy.

Logo – https://mma.prnewswire.com/media/593860/APR_ENERGY_LOGO.jpg

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Generac: Hurricanes, Earthquakes, Electrical Storms. How To Continue With Your Life And Your Business?

MEXICO CITY, Oct. 19, 2017 /PRNewswire-HISPANIC PR WIRE/ — Recently, hurricane Irma made landfall in Puerto Rico and the consequences were devastating. According to the island’s Emergency Management Agency, almost one million people ran out of electricity and there are more than 50,000 without water; 14 hospitals used generators due to loss of power, and some roads were obstructed by fallen trees and poles. The director of the agency warned that some areas could be without power for up to 6 months due to the deterioration of infrastructure.

It´s an earthquake, it’s an earthquake!

Recently Mexico City suffered one of the most damaging earthquakes since ‘85. An earthquake of 7.1 shook the cities of Puebla, Mexico City and Morelos, causing fallen buildings, destroyed homes, homeless people, offices and evacuated companies for inspection of buildings’ infrastructure to see whether or not they can continue their activities.

In response to this incident, there was damage to the infrastructure of 93 telecommunications service sites in CDMX, which resulted in the loss of voice services. In the State of Mexico, the damages reached the infrastructure of 44 places and 7 in Morelos.

“Facing natural disasters with the force of an earthquake or hurricane, a culture of prevention is necessary, which means that we have the right tools for our day-to-day continuity. For this reason, it is important to always be prepared and have backup energy systems that allow for coping with the worst natural phenomenon or a failure in the supply of the public network”, said Samara Salgado, Marketing Director for Latin America of Generac.

Back-up units or a power generation system to prevent a power outage from putting the operation at risk in a home, businesses, schools and even large enterprises with critical applications are key equipment, which from Generac’s point of view must be considered in any continuity theme.

According to Samara, “In this context, electric power backup systems are no longer just a system for critical loads; nowadays they’ve become the system of systems, the backbone and a strategic tool for companies, either because the business is considered mission critical or just because it pretends to achieve a competitive advantage, while for the public sector, servicing and guiding the citizenry is not optional. The idea is to consider it as strategic within the business continuity and emergency service plan.”

http://www.infosol.com.mx/proyectos/generac/Hurricanes-earthquakes-electrical-storms-How-to-continue-with-your-life-and-your-business.html

http://www.infosol.com.mx/proyectos/generac/Hurricanes-earthquakes-electrical-storms-How-to-continue-with-your-life-and-your-business.docx

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Generac: New Options in Backup Power Generation

MEXICO CITY, Oct. 10, 2017 /PRNewswire/ – “Diesel-based generators have been the traditional option for business and industrial energy backup. However, they are not the only option. At Generac, we are convinced of the high functionality of the generators fed by different kinds of fuels, which can meet any application, scheme or regulation.”

Frank Moreno, Sr Director Marketing & Distribution Development Latam.

Generac: New Options in Backup Power Generation

http://www.infosol.com.mx/proyectos/generac/new-options-in-backup-power-generation.html

About Generac

Ever since 1959, Generac has been a leader in the design and manufacturing of a wide range of energy generation equipment and other engine-driven products. As a leader in light-energy equipment for residential and industrial applications, for the energy and construction sectors, Generac’s energy products are available around the world through a vast network of independent distributors, retailers and wholesalers and equipment-rental companies, and they are sold directly to certain clients and end users. http://generac.com/

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APR Energy Awarded LPG-Fired Project in U.S. Virgin Islands

Innovative plant features first TM2500+ turbine in commercial operation to run on LPG

JACKSONVILLE, Florida, Dec. 12, 2016 /PRNewswire-HISPANIC PR WIRE/ — APR Energy, a global leader in fast-track power solutions, announces today that it has signed a 12-month contract with U.S. Virgin Islands Water and Power Authority (WAPA) to provide 25MW of power generation using liquid petroleum gas (LPG). The project features a retrofitted GE TM2500+ mobile gas turbine, the first ever to be commercially operated on LPG – a significant milestone that will provide customers access to a cheaper and cleaner-burning alternative to other conventional petroleum-based fuels.

Photo – http://photos.prnewswire.com/prnh/20161209/447572

The project is the latest in a string of business wins for APR Energy since being privatized at the beginning of the year, bringing the total of new awards, extensions and expansions in 2016 to more than 1GW. The project also is the company’s sixth award in the past year using mobile gas turbines.

“This first-of-its-kind project will enable the USVI to leverage its significant investment in LPG infrastructure by greatly reducing the cost and environmental impact of power generation,” said APR Energy Executive Chairman John Campion. “Experts are forecasting a 15-percent increase in the price of diesel fuel during the next two years, while LPG prices are expected to remain stable. Using LPG should provide WAPA with significant savings compared with diesel-powered reciprocating engines, which are common in the Caribbean.”

“The switch to the lower-cost and cleaner-burning LPG as the primary source of fuel in generating electricity in the Virgin Islands has been the single biggest capital project WAPA has undertaken in recent history,” said WAPA Executive Director and CEO Julio Rhymer, Sr. “We are excited about potentially providing lower rates for our customers and are pleased that with today’s contract signing APR Energy will be part of our energy solution in the Virgin Islands. For years now, WAPA has had a positive relationship with APR Energy, and we are pleased to work with them in becoming the world’s first electric utility to place an LPG-fired TM2500+ into commercial operation.”

Campion expects this project to serve as a model for other utilities looking to benefit quickly from LPG as an alternative, cheaper fuel source. “Interest in LPG is growing in many markets around the world, especially in the Caribbean and parts of Africa and Asia, where availability of the fuel has expanded significantly in the last few years,” Campion said. “The TM2500+ turbine is one of the few fast-track technologies capable of running on LPG, and it offers customers the added flexibility to switch quickly and seamlessly between fuels based on price and availability.”

The new project supplements APR Energy’s existing 25MW diesel-fuelled turbine plant installed in 2012 for WAPA, bringing its total generation at the site to 50MW.

About APR Energy

APR Energy is the world’s leading provider of fast-track mobile turbine power. Our fast, flexible and full-service power solutions provide customers with rapid access to reliable electricity when and where they need it, for as long as they need it. Combining state-of-the-art, fuel-efficient technology with industry-leading expertise, our scalable turnkey plants help run cities, countries and industries around the world, in both developed and developing markets. For more information, visit the Company’s website at www.aprenergy.com.

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Viking Cold Solutions’ Thermal Energy Storage system demonstrates over 30% energy savings in a 3rd party study and is recommended for adoption by utilities in California

An innovative thermal energy storage system using phase change material and intelligent controls provides significant cost savings, enhanced product monitoring, and protection for cold storage operators and supermarkets.

HOUSTON, Nov. 15, 2016 /PRNewswire-HISPANIC PR WIRE/ – Viking Cold Solutions, a leader in thermal energy storage systems, today announced that a Southern California Utility, along with an independent 3rd party energy management firm, ASWB Engineering, completed a Field Demonstration Study of the Viking Cold Thermal Energy Storage (TES) system. The study verified a reduction in electricity consumption of 30% and 39% in two separate low temperature cold storage facilities in the San Diego area. Based on the results of this study, the Utility and ASWB recommended that California utilities adopt the technology into their Energy Efficiency incentive programs.

The purpose of the independent study was to determine the effectiveness of Viking Cold’s patented TES system in cold storage freezer applications and to qualify the system for California utility inventive programs as part of the California Energy Commission Emerging Technologies initiative.

“The benefits of the technology include reduced refrigeration equipment run time and increased product safety during power emergencies due to the thermal storage capabilities of the solution,” said John Baffa, Professional Engineer at ASWB Engineering.

“It is exciting to see our technology recognized by a leading utility energy efficiency program and I’m pleased that the study validates the results that Viking Cold customers already experience daily,” said James Bell, CEO of Viking Cold Solutions. “Our passive, non-mechanical system is a cost-effective way to reduce energy consumption across the cold chain, from walk-in freezers to large distribution warehouses, which can be used stand-alone, or to boost the return with solar PV.”

Two locations currently using Viking Cold’s TES system were studied by ASWB. The first test site, a walk-in freezer on Camp Pendleton in Southern California, showed a net facility energy savings of 30%.  The second test site is a commercial freezer warehouse at the Jacobs & Cushman San Diego Food Bank. By leveraging the Food Bank’s existing photovoltaic system to run the refrigeration during the day and using Viking Cold’s TES system at night, the facility showed a net energy savings of 39%.

“Electricity costs are one of the top two expenses in the cold storage industry and this study demonstrates the value of using an intelligent Thermal Energy Storage system to reduce energy consumption in freezers,” said Corey Rosenbusch, President and CEO of the Global Cold Chain Alliance (GCCA). “Based on these results, our membership should evaluate this technology for their own low temperature applications.”

The complete Phase Change Material and Controls Field Demonstration Study, written by ASWB Engineering, can be downloaded on the California Emerging Technologies Coordinating Council’s website at http://www.etcc-ca.com/reports/phase-change-material-and-controls-study-low-temp-refrigeration-applications.

About Viking Cold Solutions:

Viking Cold Solutions™ is an energy management company, which makes the world’s cold storage systems more efficient using proprietary Phase Change Material (PCM) and intelligent controls.  The Thermal Energy Storage (TES) solution stores energy, reduces demand, shifts load, monitors the facility, and provides thermal back-up protection. The company’s patented TES systems have saved over 7,000 MWh of energy, reduced carbon footprint by over 4,600 metric tons, and prevented more than $13M of product loss. Learn more at vikingcold.com

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Plaza Provision Company installs another Viking Cold™ Thermal Energy Storage system reducing energy costs by over 30%

HOUSTON, July 20, 2016 /PRNewswire-HISPANIC PR WIRE/ – Plaza Provision Company, a leading food distributor in Puerto Rico, has purchased its fourth Thermal Energy Storage (TES) system from Viking Cold Solutions, and where installed, has reduced energy consumption by over 30%.

Three Viking Cold’s Thermal Energy Storage systems, installed in 2010, 2013 and 2014, have saved Plaza Provision Company over $650,000, reduced energy consumption by over 3,200 MWh, and reduced carbon footprint by over 2,200 metric tons. The patented Thermal Energy Storage systems store energy at night for subsequent day use, allowing refrigeration to run less frequently. The result is significant cost and electricity savings.

“We purchased our fourth system because the total reduction in consumption has surpassed our expectations,” said Robert Cimino, CEO of Plaza Provision Company. “Also, having real-time monitoring has been invaluable and has helped us to recognize and address equipment issues before they become costly problems.”

“Robert Cimino’s use of state of the art efficiency technology to not only improve his bottom line but also to preserve the environment, is an example of what can be achieved using the Viking Cold’s TES system,” said James Bell, CEO of Viking Cold Solutions. “Our TES system can be installed in cold storage facilities and supermarkets to reduce energy consumption and carbon footprint while mitigating risk with temperature monitoring and backup thermal protection.”

Plaza Provision Company’s system is among twenty-four that Viking Cold has installed in cold storage warehouses and supermarkets in Puerto Rico, Bermuda, St. Thomas, California, New Mexico, and Texas.

Aireko Services and Installation, Inc., a leading HVAC services company, is the authorized distributor of Viking Cold’s TES system in Puerto Rico. They have been installing Viking Cold’s systems since 2010.

To learn more, watch Viking Cold’s 90 second video about how the technology works. To see more details on the Plaza Provision Company case, click here.

Viking Cold Solutions™ is an energy management company focused on making the world’s cold storage systems more efficient. The Viking Cold team has deep expertise in cold storage energy management, supermarket energy management, and thermal energy storage systems.

Viking Cold provides energy storage solutions that reduce operational costs and business risk for cold storage and supermarkets with high refrigeration-based energy loads. The company is expanding rapidly throughout the U.S. and internationally. Learn more at vikingcold.com.

CONTACT: Collin Coker, ccoker@vikingcold.com, +1-832-497-5205

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APR Energy Expands Sales Focus in the Americas Region

JACKSONVILLE, Florida, July 18, 2016 /PRNewswire-HISPANIC PR WIRE/ – APR Energy, a global leader in fast-track power solutions, announces today the appointment of Carlos Mousadi as Regional Sales Director Americas.

APR Energy.

“Carlos brings more than a decade and a half of sales experience and deep knowledge of the Latin American power generation market to our expanding global commercial team,” said Silvio Cavaceppi, vice president of business development and marketing. “His vast experience using turbines and working with alternative fuels such as LPG will be especially valuable as we provide customers in the region with fast-track, fuel-flexible power solutions that can save customers significant money in fuel costs.”

Prior to joining APR Energy, Mousadi was director of sales at Siemens Energy Inc., where he focused on simple and combined-cycle fossil power plants solutions for customers throughout Latin America. Earlier at Siemens, he served as director of operations management, business excellence and business development with a concentration on Latin America.

About APR Energy

APR Energy is the world’s leading provider of fast-track mobile turbine power. Our fast, flexible and full-service power solutions provide customers with rapid access to reliable electricity when and where they need it, for as long as they need it. Combining state-of-the-art, fuel-efficient technology with industry-leading expertise, our scalable turnkey plants help run cities, countries and industries around the world, in both developed and developing markets. For more information, visit the Company’s website at www.aprenergy.com.

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CONTACT: Alan Chapple (Media), Phone: +1 (904) 223-2277, Email: publicrelations@aprenergy.com, Press Photo Gallery, http://www.aprenergy.com/press-photo-gallery

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Energy Storage Company Elecyr Appoints Michael Kelly As President Of Jamaica Manufacturing Subsidiary

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FOR IMMEDIATE RELEASE


An unreliable electric grid, high electric costs and limited net metering make the Caribbean and Latin America the fastest growing market for energy storage.  As with the early adoption of cell phones in emerging countries, solar batteries are a natural fit with immediate benefits.

Michael Kelly, c., President of Elecyr Carib Ltd. in Montego Bay, Jamaica.

Michael Kelly, new president of Elecyr Carib (center) with Evelyn Harrington, CEO of Fargo Electronics (left)

CaribPR Wire, DOVER NEW HAMPSHIRE, April 11, 2016: Elecyr Corporation has announced the appointment of Michael Kelly as President of Elecyr Carib Ltd. in Montego Bay, Jamaica.  The new subsidiary will manufacture Elecyr’s patent-pending energy storage systems for sale in Latin America and Europe.  Elecyr’s CEO Bill Southworth explains that, “As one of the most important container ports in the Americas and with an educated workforce that ideally suits our manufacturing, Jamaica was the logical choice to expand our business.”  It’s also one of the fastest growing markets for energy storage in its own right.

As the cost of solar energy storage continues to decline, it’s predicted that within a decade solar will be less expensive than just the cost of maintaining the wires for the electric grid.  Net-metering, or using the electric grid to store electric power from rooftop solar, will soon reach its limit everywhere as has already happened in Hawaii, Nevada and a dozen other states.  Advanced battery storage will be an essential part of the next wave of independent solar homes interconnected by microgrids.

Michael Kelly describes the appeal of Elecyr’s plug-and-play battery modules as “a natural for the Caribbean, where a customer can see a return on investment of less than two years on a product that will last decades.”

Elecyr Corporation is a leader in this new market for residential energy storage, along with Tesla and Sonnenbatterie.  However, Elecyr’s adoption of nanotechnology in its batteries provides a unique solution for safe and extremely long-life residential storage that’s expandable from the smallest Tiny House to a large condo complex or an entire village.

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Press Contacts:

Elecyr Corporation                                                                                                                                                   Michael Kelly

Bill Southworth, President                                                                                                                        President, Elecyr Carib Ltd.

Cell: 617 905-6800                                                                                                                                           Cell: 876 599-9921

Office: 855 955-6800                                                                                                                                   Office: 855-955-6800

email: bill.southworth@elecyr.com email: michael.kelly@elecyr.com

web: http://www.elecyr.com

PARA PUBLICACIÓN INMEDIATA

Con operaciones de ensamblaje en Jamaica, Elecyr alcanza mercado de almacenamiento de energía en Latinoamerica

Red eléctrica poco fiable, altos costos de electricidad y una medición neta limitada, hacen del Caribe y América Latina el mercado de mayor crecimiento para el almacenamiento de la energía solar. Al igual que con la rápida adopción de teléfonos celulares en los países emergentes, las baterías solares para los hogares son un ajuste natural con beneficios inmediatos.

CaribPR Wire, DOVER NEW HAMPSHIRE, Abril 11 del 2016 —Elecyr Corporation ha anunciado el nombramiento de Michael Kelly como presidente de Elecyr Carib Ltd, en Montego Bay, Jamaica. La nueva subsidiaria manufacturará el sistema de almacenamiento de energía con patente en trámite de Elecyr, para ventas en el Caribe, America Latina y Europa.  El presidente de Elecyr Bill Southworth explica: “Al ser uno de los   puertos más importantes en America y con una educada mano de obra, que idealmente se adapta a nuestro proceso de fabricación,  Jamaica fue la elección lógica para expandir nuestro negocio” Ademas de ser también uno de los mercados de más rápido crecimiento para el almacenamiento de energía.

En tanto el  costo de los paneles solares continúa bajando, se prevé que dentro de una década la energía solar será menos costosa que el costo de mantener los cables de la red eléctrica. El uso de la red eléctrica para almacenar la energía eléctrica a partir de energía solar en la azotea alcanzará su límite como ya ha sucedido en Hawai, Nevada y otros estados. Las avanzadas baterías para el almacenamiento de energía serán una parte esencial de la próxima ola de casas solares independientes, interconectadas por Microrredes.

Michael Kelly  describe el atractivo de las baterías de Elecyr listas para usar (plug-and-play) como “algo natural para el Caribe, donde un cliente puede ver un retorno de la inversión de menos de dos años en un producto que va a durar décadas .”

Elecyr Corporation es líder en este nuevo mercado del almacenamiento de energía residencial,  junto con Tesla y Sonnenbatterie.  Sin embargo, la adopción por parte de Elecyr de la nanotecnología en sus baterías  le permite ofrecer a los clientes una solución única, segura y muy duradera para el almacenamiento de energía residencial y que ademas es expansible y aplicable desde la casa más pequeña hasta un complejo de apartamentos de gran tamaño o la totalidad de un pueblo.

Contacto de Prensa: (El contenido completo y fotos, están disponibles en  http://www.elecyr.com/releases/jamaica)

Elecyr Corporation                                                                                                                        Elecyr Carib Ltd.

Bill Southworth, Presidente                                                                                             Michael Kelly, Presidente

Celular: 617 905-6800                                                                                                         Celular: 876 599-9921

Oficina: 855 955 68 00 ext: 103                                                                                      Oficina 855-955-6800

email: bill.southworth@elecyr.com email: michael.kelly@elecyr.com

web: http://www.elecyr.com

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Generac to Acquire Majority Share of PR Industrial

WAUKESHA, Wisconsin, April 6, 2016 /PRNewswire-HISPANIC PR WIRE/ – Generac Holdings Inc. (NYSE: GNRC) (”Generac”), a leading designer and manufacturer of power generation equipment and other engine powered products, announced today the signing of an agreement to acquire a majority share of PR Industrial S.r.l and its subsidiaries, owner of the Pramac® brand (collectively Pramac).  The transaction is expected to close prior to the end of the first quarter of 2016.

Founded in 1966 by the Campinoti family and headquartered in Siena, Italy, Pramac is a leading manufacturer of stationary and mobile generators for a variety of commercial and industrial applications primarily sold under the Pramac® brand, as well as portable generators used for numerous residential, light construction and recreational purposes.  The company also has a line of material handling equipment sold under the Lifter® brand.  Selling into over 150 countries through a broad distribution network, Pramac employs over 600 people across its four manufacturing plants and 14 commercial branches worldwide.

Acquiring a majority share of Pramac will be a great strategic fit for Generac as we build out our power generation business around the globe,” said Aaron Jagdfeld, President and Chief Executive Officer.  “This acquisition will dramatically increase our global presence by adding product, manufacturing and distribution capabilities that serve local markets around the world.  In addition to creating global opportunities for our existing product lines, this transaction should also generate meaningful cost synergies as we leverage our combined sourcing and manufacturing capabilities across the world.”

CONTACT:
Michael W. Harris
Vice President – Finance
(262) 544-4811 x2675
Michael.Harris@Generac.com

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APR Energy Commissions Gas Turbine Plant for Industrial Customer in Egypt

JACKSONVILLE, Florida, Feb. 25, 2016 /PRNewswire/ — APR Energy, a global leader in fast-track power solutions, announces today that it has commissioned its new power plant in Egypt. The plant will support development of a large-scale industrial complex being built for the Egyptian Ethylene and Derivatives Company (ETHYDCO), a manufacturer and leading provider of value-creating plastics and rubber products.

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APR Energy’s turnkey solution features three GE aeroderivative mobile gas turbines running on clean-burning natural gas, together with the associated balance of plant. As standard with its full-service package, APR Energy handled all design, installation and commissioning work for the plant, and will continue to manage all ongoing operation and maintenance. The plant will run for a minimum of 12 months.

“This is a major project for Egypt’s growing industrial sector, and we are pleased to have APR Energy as our power generation partner,” said ETHYDCO Chairman Abd-el Rahman Zeid. “Due to our need for a reliable and cost-efficient natural gas solution, their mobile gas turbines were the best fit to meet our critical electricity needs. We have been impressed with the speed and flexibility APR Energy has demonstrated in delivering our unique project requirements on time, and appreciate the responsiveness its people have shown during every stage of the process.”

John Campion, APR Energy Chairman, said, “I want to congratulate our installation and commissioning team for safely and efficiently delivering our newest power plant on-time, per customer requirements. The project is significant in that it gives us a foothold in one of the largest markets in the region and supports one of Egypt’s most strategic industrial investments. It also builds upon our experience in the industrial space, further diversifying our customer base and complementing the strong success that we have had in the utility segment.”

Campion added, “APR Energy’s Egyptian power plant exemplifies the use of mobile gas turbines as an affordable self-power solution for customers in energy-intensive industries such as petrochemicals, mining, EPC and oil and gas. Our turnkey solutions not only provide a highly-reliable source of power to keep critical operations running, but also enable customers to focus on their core business rather than worrying about power generation.”

Click here to view a brief time-lapse video of the plant from ground breaking to commissioning.

About APR Energy

APR Energy is the world’s leading provider of fast-track mobile turbine power. Our fast, flexible and full-service power solutions provide customers with rapid access to reliable electricity when and where they need it, for as long as they need it. Combining state-of-the-art, fuel-efficient technology with industry-leading expertise, our scalable turnkey plants help run cities, countries and industries around the world, in both developed and developing markets. For more information, visit the Company’s website at www.aprenergy.com.

CONTACT: Alan Chapple (Media), Phone: +1 (904) 223-2277, Email: publicrelations@aprenergy.com, Press Photo Gallery: http://www.aprenergy.com/press-photo-gallery)

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APR Energy Shareholders Approve Consortium Acquisition, Privatization

JACKSONVILLE, Florida, Jan. 7, 2016 /PRNewswire-HISPANIC PR WIRE/ — APR Energy plc (the “Company”) (LSE: APR), a global leader in fast-track power solutions, announces today that an offer by a consortium of investors (the “Consortium”) to acquire the Company was declared unconditionally successful on 5 January. The Consortium comprises Fairfax Financial Holdings Limited, ACON Equity Management and Albright Capital Management, and brings substantial financial backing to support the Company’s business initiatives, including committing more than $200 million in fresh equity capital to reduce debt and increase working capital.

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“This is a significant milestone in the evolution of APR Energy,” said Executive Chairman John Campion. “We are pleased to be working alongside a group that truly understands our business and our market – and that shares our longer-term vision. Our new investors bring significant strategic value to our business, including global relationships, a sophisticated understanding of international finance and extensive experience investing in global power markets. Their significant investment reflects a strong belief in our business, our market and our management team, and we expect them to be great partners as we grow the Company and continue to serve our expanding base of global customers.

“This transaction clearly makes us stronger, and will pay down debt, increase working capital and enable us to approach the longer term with renewed confidence.”

Chief Executive Officer Laurence Anderson said, “With these new partners, we will have greater flexibility to manage through the short-term variations in our business cycle while staying focused on our longer-term growth objectives. We also will have access to additional capital to fund growth initiatives.”

Anderson said that during the transition process, and afterward, “Our customers, partners and suppliers can expect us to continue to build upon our already high level of customer service, driving operational excellence and delivering reliable, essential electricity around the world.”

About APR Energy

APR Energy is the world’s leading provider of fast-track mobile turbine power. Our fast, flexible and full-service power solutions provide customers with rapid access to reliable electricity when and where they need it, for as long as they need it. Combining state-of-the-art, fuel-efficient technology with industry-leading expertise, our scalable turnkey plants help run cities, countries and industries around the world, in both developed and developing markets. For more information, visit the Company’s website at www.aprenergy.com.

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CONTACT: For more information contact: Alan Chapple (Media), Phone: +1 (904) 223-2277, Email: publicrelations@aprenergy.com

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APR Energy 250MW Extension in Uruguay Gains Final Signature, Approval

JACKSONVILLE, Fla., Sept. 7, 2015 /PRNewswire/ – APR Energy plc (the “Company”), a global leader in fast-track power solutions, today announces final signature and government approval of the extension of its 250MW power generation project through the end of 2015 with Usinas y Trasmisiones Eléctricas (”UTE”), the Uruguayan state power company. The approved contract terms and conditions are unchanged from the agreement announced on 1 July, including the pending sale of 50MW of gas turbines. In that announcement, the Company reported that it had reached agreement with UTE on the terms of the extension, and was awaiting completion of the standard government review.

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APR Energy has been serving UTE since 2012 through two power plants, located in La Plata and Punta del Tigre. The mobile gas turbine solution provides bridging power while a permanent generating facility is being constructed as well as much-needed reserve capacity as the region deals with diminished hydroelectric power output resulting from a prolonged drought.

“UTE has been an outstanding, long-term customer, and their decision to extend our projects five times is a reflection of the high quality of service we provide and the reliability of our technology,” said Chief Executive Officer Laurence Anderson. “The decision by UTE underscores the fact that our fast-track mobile solutions are an ideal source of interim power during construction of permanent infrastructure.”

About APR Energy
APR Energy is the world’s leading provider of fast-track mobile turbine power. Our fast, flexible and full-service power solutions provide customers with rapid access to reliable electricity when and where they need it, for as long as they need it. Combining state-of-the-art, fuel-efficient technology with industry-leading expertise, our scalable turnkey plants help run cities, countries and industries around the world, in both developed and developing markets. For more information, visit the Company’s website at www.aprenergy.com.

Certain statements included in this announcement constitute, or may constitute, forward-looking statements. Any statement in this announcement that is not a statement of historical fact (including, without limitation, statements regarding the Company’s future expectations, operations, financial performance, financial condition and business) is or may be a forward-looking statement. Such forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those projected or implied in any forward-looking statement. These risks and uncertainties include, among other factors, changing economic, financial, business or other market conditions. Although any such forward-looking statements reflect knowledge and information available at the date of this announcement, reliance should not be placed on them. Without limitation to the foregoing, nothing in this announcement should be construed as a profit forecast.

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CONTACT: Enquiries: APR Energy plc: Lee Munro (investors) + 1 904 404 4576; Manisha Patel (investors) + 1 904 517 5135; Alan Chapple (media) + 1 904 223 2277; CNC Communications: Nick Bastin +44 (0) 20 3219 8814 / +44 (0) 7931 500 066; Michael Kinirons +44 (0) 20 3219 8803 / +44 (0) 7827 925 090

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APR Energy Renews 25MW Power Contract in the U.S. Virgin Islands

Two-year contract extension adds to record renewals

JACKSONVILLE, Fla., Dec. 16, 2014 /PRNewswire/ – APR Energy plc (LSE: APR), a global leader in fast-track power solutions, today announces that it has signed a two-year extension for its 25MW contract in the U.S. Virgin Islands, to run through late Q4 of 2016. The extension adds to APR Energy’s record number of renewals for the year, driving a success rate of over 90%.

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APR Energy assumed the contract with the U.S. Virgin Islands Water and Power Authority (WAPA) as part of its acquisition of GE’s power rental business in October 2013. The Group provides a turnkey bridging power solution to WAPA, supporting the utility’s strategic system improvements as it converts to liquefied propane gas (LPG), a lower cost fuel alternative. The GE TM2500 turbine provided by APR Energy gives WAPA additional fuel flexibility, including the ability to operate on the cheaper LPG fuel.

Tom Caldwell, APR Energy Managing Director, Americas, stated, “We are very excited that our bridging solution continues to play a key part of WAPA’s long-term plans as it makes its system-wide improvements. APR Energy appreciates the opportunity to continue our strong relationship with WAPA and are proud to support its efforts in providing lower cost solutions for the island’s ratepayers through our highly-efficient, mobile turbine technology.”

About APR Energy
APR Energy is a global leader in large-scale, fast-track power solutions, providing customers with rapid access to reliable electricity when and where they need it. APR combines state-of-the-art, fuel-efficient technology with industry-leading expertise to provide turnkey power plants that are rapidly deployed, customizable, and scalable. Serving both utility and industrial segments, APR Energy provides power generation solutions to customers and communities around the world, with an emphasis on Africa, the Americas, Asia-Pacific and the Middle East. For more information, visit the Company’s website at www.aprenergy.com.

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CONTACT: APR Communications, Direct Phone: +1 (904) 223-2277, Email: publicrelations@aprenergy.com

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