APR says dual-fuel turbines in demand

APR Energy expects to invest around US$150 million in its power rental fleet this year, approximately half of its 2012 expenditure. The company said it would focus this year on operational improvements and increasing the utilisation of its diesel power fleet.

The heavy investment in the fleet and the opening of hubs worldwide is reflected in a 33% increase in revenues for the full year to $265 million. Total fleet capacity on 31 December 2012, was 1311 MW compared to 900 MW in December 2011. The order backlog is more than 11592 MW-Months, an increase in the order book of 80% from the end of 2011.

APR said in its trading statement that it continued to see strong growth for power in Africa, Latin America, Middle East and South East Asia; “We expect to continue to make good progress in 2013. APR Energy remains confident in the structural growth trends within the temporary power market and, specifically, in the application of mobile dual-fuel turbine technology.”

During the final quarter of 2012 the company signed a new 200 MW contract in Uruguay for dual-fuel gas turbines. The same customer has signed an extension of its existing 100 MW contract. APR said this contract highlighted the flexibility and applicability of dual-fuel gas turbine technology.

APR Energy has meanwhile announced that it has won two rental contracts in Guatemala and Indonesia alongside contract extensions in Senegal and Gabon. The contracts are for 101 MW of power in total.

In Guatemala APR will provide electricity to the Escobal silver mine in San Rafael Las Flores, Santa Rosa, about 40 km outside of the capital, Guatemala City. The APR plant will be the sole power source for the mine’s critical operations, independent of the local grid system.

In Indonesia, APR will provide a 15 MW diesel-fired power plant on the island of Nias to feed into the state-owned electrical grid system.

“Both of these new projects represent big moves for APR Energy,” said the company’s president and chief operating officer, Laurence Anderson. “The Indonesia project offers us entrance into one of the largest temporary power markets in the world, and follows the opening of our Malaysia hub in the fall of 2012.

“The Guatemala project falls directly in line with company interest to further penetrate the lucrative mining industry market and helps APR diversify our global customer base.”

APR Energy chief executive officer, John Campion, said; “The 101 MW in January follow on the heels of the 200 MW contract award and 100 MW renewal in Uruguay in December and show an unmistakable momentum in our business.”

The full preliminary results for the year 2012 will be released on 21 March.