News & Publications - Press Releases

12 December 2011.

Rurelec PLC (AIM:RUR), the electricity utility which owns and operates power generation capacity in Latin America, announces a new project in Peru.

Foreign investment is actively encouraged in Peru, as the country is experiencing high demand growth for power.

Rurelec has agreed, as anchor investor alongside Peruvian and other international partners, to acquire a 50 per cent interest in Cascade Hydro Limited ("Cascade"), a newly formed hydroelectric power development company focused on run-of-river projects.

Read more: Hydropower Expansion Into Peru

28 November 2011

Rurelec PLC (AIM:RUR), the electricity utility which owns and operates power generation capacity in Latin America is pleased to provide an update on its pending international arbitration against the Government of Bolivia pursuant to the UK/Bolivia and US/Bolivia bilateral investment treaties arising out of Bolivia's nationalisation and expropriation of Rurelec's controlling stake in Empresa Guaracachi SA ("Guaracachi") on 1 May 2010.  As explained in our previous updates, we continue to pursue with all vigour the arbitration claims that we and our US subsidiary, Guaracachi America Inc., have against Bolivia with the aim of obtaining a just compensation for that investment.

Read more: Update on Guaracachi Arbitration Process

The Company has today been notified that on 28^th September 2011, Andrew Morris, the non-executive Chairman, and Peter Earl, the Chief Executive Officer, each purchased 250,000 ordinary shares of two pence each in the Company at a price of 7.125 pence per share.

Mr Morris is now interested in 350,000 shares representing approximately 0.083% and Mr Earl is now interested in 750,000 shares representing approximately 0.18% of the issued share capital of the Company.

Read more: Director/PDMR Shareholding

8 September 2011

Rurelec PLC ("Rurelec" or "the Company"; AIM: RUR), the electricity utility focused on the development of power generation capacity and rural electrification projects in Latin America, announces its unaudited interim results for the six months ended 30 June 2011.

Financial Highlights:

• Turnover £7.2m (2010: £4.7m)
• Gross Profit £3.3m (2010: £1.4m)
• Post tax loss £(0.6)m (2010: £17.4m profit)
• Loss from continuing operations £(0.6)m (2010: £0.9m profit)
• Earnings per share 0.18p loss (2010: 0.42p profit)
• Net asset value per share 20p (2010: 31p)

Operational Highlights:

• Assets in Argentina performing well and trading profitably.
• Progress being made towards arbitration process for compensation on assets nationalised in Bolivia.

Peter Earl, Rurelec's Chief Executive, said:

"I am delighted to present to our shareholders clear evidence that the tide has finally turned for Rurelec. We are now looking to reap the benefits of the pain which we have gone through in recent years to bring our Energia del Sur (EdS) plant to maximum output and strong generation of cash flow and profits. The board is focused on generating maximum shareholder value from EdS and evaluating growth opportunities, however we will not lose sight of the need to obtain maximum compensation for our assets in Bolivia.

Read more: Half Yearly Report - Interim Results for the Six Months Ended 30 June 2011

5 September 2011

Rurelec, notes the recent press article published by Bloomberg on 25 August 2011 concerning a possible power project in Bangladesh.  The article linked Rurelec to a 108 MW heavy fuel oil power plant to be developed in Chittagong.

Read more: Bangladesh Power Project

14 July 2011

Rurelec, the AIM quoted independent power plant developer with operations in South America, is pleased to announce the appointment of XCAP Securities plc as the Company's Broker with immediate effect.

Read more: Change of Advisor

30 June 2011

Rurelec, the AIM quoted independent power plant developer with operations in South America, is pleased to announce that at the Company's General Meeting held earlier today all resolutions were duly passed.

Read more: Result of AGM

14 June 2011

Rurelec PLC (AIM: RUR), the developer, owner and operator of power generation capacity in Latin America, announces that, on 13 June 2011,  Peter Earl, Managing Director,  acquired 250,000 ordinary 2p shares ("Ordinary Shares") in the Company at a price of 9 pence per share.

Read more: Director/PDMR Shareholding