Power generation company Pacific Energy Limited (PEA) announced that its wholly owned KPS business has signed a new electricity supply contract with Sandfire Resources NL. KPS will build, own and maintain the 20MW Degrussa Copper Gold Project power station. This contract has a term exceeding seven years commencing 1 February 2012. The Degrussa Copper Gold Project is located approximately 170km north of Meekatharra, Western Australia. The 20MW Degrussa Copper Gold Project power station follows the Company’s recent contract successes including the: 12MW Garden Well power station for Regis Resources Limited (Regis); 3MW Chalice power station for Alacer Gold Corp; and Retrofit of the KPS waste heat recovery fuel saving technology to the 12MW Garden Well and 8MW Moolart Well power stations for Regis.
Pacific Energy continues to progress many new opportunities and is actively negotiating new electricity supply contracts with significant resource companies. Managing Director Comment Pacific Energy’s Managing Director, Mr Adam Boyd said: “The Board of the Pacific Energy is particularly pleased to be partnering with Sandfire to commence production at the Degrussa Copper Gold Project – the most significant copper gold resource discoveries in Western Australia for many years. “Significantly, the signing of this new seven-plus year contract represents the largest single contract win since Pacific Energy acquired KPS in May 2009. It also comes on the back of strong recent contract wins and expands the KPS business to more than 175MW across 17 mine sites within Australia.
Pacific Energy is an ASX listed (PEA) power generation project developer and owner. Headquartered in Perth, Western Australia, Pacific Energy is focused on the development, ownership and maintenance of mine site and renewable energy power stations. Kalgoorlie Power Systems, a wholly owned subsidiary of Pacific Energy Limited, is a leading provider of power generation infrastructure to the mining and resources sector in Australia. The business operates a build, own, maintain execution model with in excess of 175MW of contracted capacity at 17 mine sites across Australia.
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