Argentina

Argentina's economy is expected to grow by 5.5 per cent. in 2008 following on from several years of high growth during which the country has made a recovery from the 2001 Peso crash. In this time electricity demand has begun to outstrip supply in many parts of the country. One such area is Patagonia which is suffering from acute power shortages.

Rurelec's wholly owned Argentinean subsidiary, Energia del Sur, S.A. ("EdS"), operates in Patagonia working to relieve this shortage. EdS supplies electricity to the rural electrification cooperative in Comodoro Rivadavia and to BP's Argentine subsidiary. Originally set up as an open cycle gas turbine plant, the past year has seen the conversion of the Comodoro Rivadavia site to CCGT. In doing so, capacity has increased from 76 MW to 136 MW whilst greatly improving efficiency. The CERs expected to be generated from this will provide extra revenue with which to fund future expansion.

Rurelec's management team have over ten years of experience in the country. With Argentina's energy shortages looking set to continue for the foreseeable future we are ideally placed to expand our operations.