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Operational Update
Rame Energy plc, the international energy consultant, engineer and power generator, has issued update on its operations in line with the Company’s strategy to grow its revenue generative international energy consultancy business, which supplies power generation solutions to the industrial, mining and utility sectors, in tandem with establishing Rame as an independent power producer in Chile.
Solar Services – Beco Ltd signs Memorandum of Understanding with Pakistan based engineering company Vital Tech Engineering & Services (Private) Limited.
Beco Ltd, a wholly owned subsidiary of Rame, has entered into a MOU with Vital Tech Engineering & Services (Private) Limited, a Pakistan based engineering company. Under the MOU it is envisaged that Beco will provide off-grid, renewable energy based, power supply systems for a variety of applications, which VTE will then install and maintain. The MOU gives VTE exclusive rights to the resale and ongoing maintenance of the Systems in Pakistan for a minimum period of two years (subject to final contract).
VTE is a subsidiary of FBL Group – a group of companies dealing in industrial engineering, thermal power, waste heat recovery boilers, steam boilers, fabrication and installation. VTE clients are primarily in industrials and telecommunication and include Alcatel – Lucent Pvt Ltd Pak, WinCOM and Pakistani tobacco company, Akora Khattak. VTE’s network of clients provides an opportunity for Beco to build on its expertise in off-grid systems to access the diesel displacement market in the telecoms and agricultural sectors in Pakistan.
Nigel Brunton-Reed, Managing Director of Beco Ltd, commented “The MOU represents a significant opportunity to deploy our expertise in off-grid renewable energy based power systems into Pakistan. This agreement with VTE gives us immediate access to a large potential customer base where our proven technology can provide significant benefits.”
Pieter D’haen, Chief Operating Officer at Rame Energy plc added “Rame has provided wind energy related consultancy services in Pakistan since 2007. This MOU is a great example of how the recent acquisition of Beco Ltd has created synergies for the Company, enhances our engineering division’s capability to deliver cost effective and reliable power solutions to blue chip customers, extends our portfolio and gives us access to major new markets.”
Punta Chome Wind Farm Project, Chile: Environmental Approval Received
Rame’s sub-contractors CGE Distribucion, who will build and own the export power line for the 9MW Punta Chome wind project, has advised that the environmental permitting process for the export line is now complete and that environmental approval has been received.
This represents an important development for Punta Chome and is also a key milestone under the framework agreement with Santander Investment Chile Limitada for the equity financing of the Company’s next four wind projects in Chile totalling 118 MW (of which Punta Chome is one), as announced on 16 June 2014. Under the terms of the agreement, operations at all four projects are due to commence by 31 December 2015.
CGE Distribucion is part of the CGE Group, one of the most important energy conglomerates in Chile, responsible for c.39% of electricity distribution in the country to more than two million customers.
Pieter D’haen, Chief Operating Officer, commented “The granting of the environmental permit for the export power line at Punta Chome represents another positive step towards the construction of this wind project in Chile, and brings us closer to our stated targets of having in excess of 100 MW of power generating capacity installed and in operation in Chile by the end of 2015 and 300 MW within three years.”
