Rurelec taking 'cautious view' as Argentina negotiations continue
3rd Nov 2020 10:30
(Sharecast News) - Rurelec updated the market on the Argentine resolution on Tuesday, which governs the capacity and offtake revenue generated by the steam turbine at Energia del Sur (EdS), the Argentinian power plant owned by Patagonia Energy (PEL), in which Rurelec holds a 50% interest.
Read moreRurelec receives another partial repayment from Patagonia Energy
6th Mar 2020 12:02
(Sharecast News) - Rurelec has received a further $1.44m (?1.11m) by way of partial repayment by Patagonia Energy (PEL) of the amended and restated loan note, it announced on Friday, with the majority of that sum received earlier in the week.
Read moreRurelec swings to first-half loss
30th Aug 2019 10:23
(Sharecast News) - Rurelec said on Friday that it swung to an interim loss as the first half of last year included a one-off gain on the sale of its Peruvian operations.
Read moreRurelec makes further payment towards Bridge Properties loan facility
27th Jun 2019 11:36
(Sharecast News) - Rurelec announced on Thursday that it has made a further principal and interest-to-date repayment of £0.25m on the remaining temporary loan facility provided by Bridge Properties Arena Central.
Read moreRurelec makes additional payment on Bridge Properties loan, extends due date
7th May 2019 14:48
(Sharecast News) - Rurelec has made a further principal repayment of £0.2m on the remaining temporary loan facilities provided by Bridge Properties Arena Central (BPAC), it announced on Tuesday.
Read moreRurelec expecting payment progress after steam turbine overhaul
10th Jan 2019 11:37
(Sharecast News) - Rurelec announced on Thursday that it had been informed by the management of Energia del Sur, which owns and operates the 136 MW Southern Patagonian CCGT power plant in Argentina, that the major overhaul of the steam turbine had now been completed, and the combined cycle plant was now fully operational and available for dispatch.
Read moreRurelec clears loan debt, sees progress at Argentina plant
28th Dec 2018 15:39
(Sharecast News) - South America-focussed power generation capacity company Rurelec repaid £0.4m to Bridge Properties (Arena Central) on Friday, to clear outstanding interest payments on short-term loan facilities dated 17 February 2016 and 13 April 2016.
Read moreRurelec secures new short-term loan facility
18th Feb 2016 10:00
(ShareCast News) - Rurelec has entered into and fully drawn down a short-term loan facility with Bridge Properties for £850,000. The company, which owns, operates and develops power generation capacity, said the proceeds are for working capital and the repayment of the Radix Investments UK loan and
Read moreRurelec CEO Keegan throws in towel
14th Dec 2015 11:39
(ShareCast News) - Following the collapse of a major shareholder and resignation of its chairman, Rurelec's chief executive Mark Keegan has also resigned with immediate effect. In late November, Keegan and the board said they would continue to try and drum up financing for the South America-focus
Read moreRurelec shares retreat as majority owner Sterling calls in administrators
20th Oct 2015 08:08
(ShareCast News) - Investors took flight as AIM-listed Rurelec brought attention to the fact that that majority shareholder Sterling Trust Limited had gone into administration. Sterling Trust owns 303m shares, or 53.99% of Rurelec, which is focused on the Latin American electricity generation market
Read moreRurelec's non-exec directors set to step down
13th Oct 2015 09:00
(ShareCast News) - Colin Emson has resigned from his role as director of Rurelec, the power generation asset developer said on Tuesday. Emson, currently the group's non-executive chairman, said his decision was aimed at allowing the new executive board to take "whatever measures are appropriate for
Read moreRurelec in negotiations with Radix over loan facility
20th Jul 2015 13:26
(ShareCast News) - Power generation assets developer Rurelec said it was in talks with Radix Investment UK to reach an agreement over a loan facility. Late in December last year, the London-listed group said it was in default of the loan facility and it was now in negotiations to agree a settlement
Read moreRurelec completes $6.8m sale of Peruvian hydro plant
17th Jul 2015 09:19
(ShareCast News) - Rurelec has completed the sale of its Peruvian subsidy, Empresa de Generación Eléctrica Canchayllo (EGEC) to Energías Renovables de los Andres (ERA), in a deal worth $6.8m. The power generation company will use the $6.4m net proceeds from the sale to pay off the bulk of $7.5m of a
Read moreRurelec starts power production at Peruvian hydro-electric plant
2nd Jan 2015 10:30
South American power generator Rurelec has begun production at a hydro-electric plant in Peru. Rurelec said the 5.3 megawatt Canchayllo hydro-electric plant owned by its 93% indirect subsidiary Empresa de Generacion Electrica Canchayllo had formally entered service in line with its power purchase ag
Read moreRurelec aims to expand its business in Latin America
16th Sep 2014 13:52
Latin America-focused Rurelec said it was considering the opportunity to secure major alliances in the area to accelerate growth without demanding an investment from its shareholders. The group said it was considering offers for a 50% stake in its Chilean subsidiary Termonor and was aiming to comple
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