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ST BARBARA LIMITED — Capital/Financing Update 2018
Oct 10, 2018
65749_rns_2018-10-10_f81120cd-d200-4ac3-8864-48f3a6188672.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
11 October 2018
GWALIA GAS FIRED POWER STATION TO EXPAND TO 20.7MW
Highlights
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Pacific Energy secures contract variation to expand existing 14.7MW gas fired power station at Gwalia gold mine by 6MW to 20.7MW
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Increases Pacific Energy’s gas generation assets to over 125MW, representing approximately 1/3 of total contracted capacity – now 377MW
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Contract continues to August 2024 with extension options
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Upgrade works to be completed by 1 August 2019
Power generation specialist Pacific Energy Limited (ASX: PEA) is pleased to announce that its wholly-owned subsidiary, Kalgoorlie Power Systems (‘KPS’), has secured a 6MW expansion under its existing contract with St Barbara Ltd (ASX: SBM; “St Barbara”).
The increased power is required as part of St Barbara’s Gwalia Extension Project (“GEP”), with the increased capacity required to be in place by 1 August 2019.
Commenting on the award, Pacific Energy’s Managing Director, James Cullen said that he was pleased with the expansion works and looked forward to contributing to the important GEP project for St Barbara.
“This latest award increases our growing portfolio of gas generating assets to over 125MW, which, together with the 52MW gas power station currently underway at Wodgina, sees the Group leading the market by way of expertise, experience and proven reliability in the remote reciprocating gas generator market” Mr Cullen said.
-ENDS-
For Further Information Contact:
James Cullen Managing Director Pacific Energy Ltd +61 (08) 9303-8888
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338 Gnangara Road, Landsdale, Western Australia, 6065. Postal Address: PO Box 5, Kingsway, Western Australia 6065
T: (+61 8) 9303 8888 F: (+61 8) 9303 8899 E: [email protected] www.pacificenergy.com.au ABN: 22 009 191 744