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Energy firm Prospex has provided an update to shareholders on its acquisition of an interest in El Romeral, southern Spain.
The deal to acquire 49.9% interest in El Romeral, an integrated gas production and power station operation in southern Spain is to be delayed.
The project includes three producing wells that supply gas, through its own network, to a 100% project-owned 8.1 MW power station.
The company has said that due to slower than anticipated progress made during the period immediately following the festive period, the acquisition is now expected to complete on 28 February 2021.
Tarba, which will assume the day-to-day management and control of El Romeral following completion, is utilising the extended time frame to continue its preparatory work so that the operational transfer will go smoothly.