| Thu 24 Jun 2010, 16:09 | | IPS - IPSA Group Plc - Start up of Newcastle Power Plant |
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IPS
IPSA
IPS - IPSA Group Plc - Start up of Newcastle Power Plant
IPSA GROUP PLC
(Incorporated and registered in England and Wales)
(Registration Number 5496202)
AIM Share Code IPSA ISIN GB00BOCJ3F01
JSE Share Code IPS ISIN GB00B0CJ3F01
("IPSA" or "the company")
Start Up of Newcastle Power Plant
IPSA PLC (AIM: IPSA), the developer, owner and operator of power generation
capacity in Southern Africa, announces that, on 23 June 2010, its NewCogen
subsidiary re-started production of electricity under an emergency contract with
Eskom. Under the contract the plant will provide electricity to support the
South African economy during a period of power shortages which coincides with
the FIFA World Cup. While the contract is due to end on 30th June, 2010 Eskom
has indicated publicly that it may request an extension at least until the World
Cup Final on 11th July.
In the meantime NewCogen and Eskom are awaiting formal notification from NERSA,
the electricity regulator, that a six year MTPPP power purchase agreement has
finally been approved. A further announcement will be made on the MTPPP
contract as soon as news is available.
Speaking today, Peter Earl, CEO of IPSA said. "I am delighted that our Newcastle
plant is helping to keep the lights on at the World Cup especially now that
England has advanced to the final sixteen. We are honoured that NewCogen is
contributing to the electricity supply that will light up Bloemfontein next
Sunday evening."
London
24 June 2010
For further information contact:
Peter Earl, CEO, IPSA Group PLC +44 (0)20 7793 5615
John Llewellyn-Lloyd / Harry +44 (0)20 7456 9191
Stockdale, Execution Noble &
Company Ltd
Riaan van Heerden, +27 21 887 9602
PSG Capital (Pty) Ltd
Date: 24/06/2010 16:09:37 Produced by the JSE SENS Department.
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