By Libya Herald reporters.
Tripoli, 7 November 2014:
APR Energy has suspended its emergency power generation operations in Libya because of contractual issues . . .[restrict]and payment delays.
News of its move today wiped almost a fifth off the company’s market value. Chief executive Laurence Anderson was quoted by Reuters saying “One would expect that with the acute need of electricity (in Libya), this should expedite the process or raise the priority level for them.”
State electricity company GECOL hired APR Energy to instal a total of 450 megawatts of emergency generators at six sites, in what remains the largest ever single contract of its kind in the world.
APR Energy had begun its Libyan engagement by supplying 200 megawatts of emergency power. However as GECOL struggled to cope with surging power demand and failing power plants, a further 250 megawatts of generating capacity was ordered and began to arrive in June 2013.
It was not possible to contact GECOL today to gauge the impact of the APR Energy shut-down.
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