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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Advance Energy Plc | LSE:ADV | London | Ordinary Share | IM00BKSCP798 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.155 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
3 May 2017
Andalas Energy and Power Plc
(‘Andalas’, or the ‘Company’)
Operations Update
Andalas Energy and Power Plc, the AIM traded Indonesian focused energy company (AIM: ADL), is pleased to provide an update on the Company’s plans to develop a portfolio of wellhead independent power projects (‘IPPs’) targeting 250MW to 500MW of installed capacity fired with gas from proven fields.
Andalas CEO, David Whitby, said “Andalas is pioneering the concept of rolling out wellhead IPPs using established technologies to help tackle Indonesia’s energy crisis at the local level. In our view, the recent regulatory changes demonstrate that the Government recognises that these projects can make a significant contribution towards achieving its 35,000MW target of new capacity and delivering affordable power to the people of Indonesia. Being a first mover has the potential to generate significant rewards for our shareholders as we look to rapidly build an initial portfolio targeting 500MW of installed capacity.
“The new regulations and Decree are the first time wellhead IPPs have been recognised as a distinct class of project and given special consideration outside the usual planning and approval cycle. The Decree prioritising wellhead IPPs opens the door for Andalas and our partner Pertamina to identify and propose further projects for approval by the Minister, capitalising on the progress made on our recently announced project pipeline.”
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR). Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.
**ENDS**
For further information, please contact:
David Whitby | Andalas Energy and Power Plc | Tel: +62 21 2783 2316 |
Sarah Wharry Craig Francis |
Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker) |
Tel: +44 20 7894 7000 |
Jon Belliss | Beaufort Securities Limited (Joint Broker) |
Tel: +44 20 7382 8415 |
Frank Buhagiar Susie Geliher |
St Brides Partners Limited |
Tel: +44 20 7236 1177 |
Copyright ay 2 PR Newswire
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