London Stock Exchange welcomes Rame Energy to AIM
Friday 4 April 2014
Rame Energy is an established, vertically integrated international energy consultant, engineer and power generator, providing a combination of wind, diesel and hydro energy solutions to blue chip clients with high energy needs operating in remote locations, such as Akzo Nobel, Barrick Gold and BHP Billiton.
Plymouth based Rame is repositioning itself as a niche Independent Power Producer by building and operating a portfolio of power projects, capitalising on its proven track record in delivering power - it has been involved in the development of 250 MW of wind assets in Chile approximately one quarter of the country’s installed wind power capacity. Revenues generated from power production will complement those from the provision of technical consultancy, downstream operating and maintenance services. Rame also has a pipeline of projects in Chile with a potential installed capacity of over 1.4 GW. Santander will co-finance the first two wind projects totalling 15 MW in which Rame will have a 20% equity participation with an option to increase this to 100%. These are due to be operational by end of 2014 and a portfolio of 300 MW is targeted in the next three years.
The team has a proven track record in providing project management and EPC services to both global conventional and renewable energy markets, including turbine installation at several Round 1 wind farms in the UK. The initial focus is Chile where electricity demand is forecast to grow by 6% p.a. to 2021, providing Rame with excellent growth and favourable yield opportunities through the generation and sale of power to its established client base under 10-15 year power purchasing agreements, giving strong visibility to earnings.