AGK Aggreko Plc

TIDMAGK

RNS Number : 4746B

Aggreko PLC

07 January 2015

7 January 2015

Aggreko plc

Aggreko secures new contract and multi-year contract extensions

   --      Additional 150MW diesel-fuelled contract signed in Argentina 
   --      500MW of contract extensions agreed in Argentina and Cote d'Ivoire 

Aggreko is pleased to announce that it has signed a two year contract to provide an additional 150MW of diesel-fuelled power in Argentina. The agreement was awarded by Energia Argentina SA (ENARSA) following a period of negotiation. Additionally, we have agreed to extend our existing 300MW of capacity with the same customer, for approximately two more years. In negotiating these contracts, we have reached a settlement on an amount of outstanding debt, which had previously been provided against, and as such we anticipate a small increase in the 2014 full year trading profit.

We are also pleased to have signed a three year extension for 200MW of gas-fuelled plant in Cote d'Ivoire, with the option for the customer to extend this for a further two years. The contract, initially awarded by the Société des Energies de Côte d'Ivoire (CI-ENERGIES) in 2010, will reinforce the power supply in Cote d'Ivoire.

Power Projects order intake for 2014 was 757MW; order intake for 2015 year to date is 150MW.

Chris Weston, Chief Executive Officer of Aggreko, said: "It is pleasing to build on existing relationships and to have been selected to assist our customers in Argentina and Cote d'Ivoire with their on-going power needs. The extension of 500MW of existing contracts, for multiple years and new work in Argentina gives us positive momentum as we begin 2015."

Enquiries to:

 
      Investors & Analysts 
      Louise Bryant, Aggreko plc                     +44 7876 478 272 
 
      Media 
      Neil Bennett / Tom Eckersley, Maitland         +44 20 7379 5151 
 

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