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Prospex Energy PLC - exploration investment company with core investments in Spain and Italy - Says it has completed the installation of a 41.5 kilowatt of 83 solar panels on the roof of the El Romeral power plant, called Project Apollo, last Thursday in Spain. Prospex says the installation cost less than €50,000. The company holds a 50% working interest in El Romeral through its interest in hybrid energy provider Tarba Energia SL.
Says Project Apollo supplies part of the ancillary services at the plant, attributing to reduced self-consumption and increased sales of electricity.
Chief Executive Officer Mark Routh says: ‘Project Apollo establishes us as an emerging integrated energy company and reduces our carbon footprint by leveraging an existing asset to incorporate photovoltaic capabilities. Not only will this directly result in increased sales of electricity at the El Romeral power plant, but it also furthers our ambition to diversify our power assets as we look to enhance our conventional/renewable energy ratio.’
Current stock price: 5.15 pence, up 7.3%
12-month change: up significantly from 2.60 pence on August 9
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