471: Mark Routh of Prospex Energy provides an update on the plant optimisation project at El Romeral

The Vox Markets Podcast

Mark Routh CEO of Prospex Energy #PXEN provides an update on the plant optimisation project at El Romeral, which may allow an increase in power generation income of up to 65%.

El Romeral: Update on plant optimisation project

Prospex Energy PLC, the AIM quoted investment company (AIM: PXEN) focused on European gas and power projects, provides an update on the El Romeral plant optimisation project in southern Spain, in which the Company holds a 49.9% working interest, through its interest in Tarba Energía.

The plant optimisation programme was delayed by computer technology supply chain issues which have since been addressed. The last items of equipment necessary to automate plant operations arrived to allow the plant automation upgrades to commence on 21 November 2021. After some technical issues were encountered with the installation of the new control systems and the completion of a run-in and optimisation programme, the plant upgrades have been successfully integrated. As a result of these actions the plant recommenced continuous stable electricity generation on 26 November 2021.

The El Romeral power plant can now be operated 24 hours a day, 7 days a week, switching between the two operational generators as required. Continuous operations resulting from this system optimisation project may allow an increase in power generation income of up to 65%. With the installation of the new remote monitoring and control systems, the plant can now be run with reduced manual intervention, thereby also reducing the overhead and the operational expenditure of the project. In addition to this, reservoir management is also optimised because a constant flow of gas from a gas well is preferable to shutting in production every week as the plant was hitherto not usually operational on a Sunday.

About Prospex Energy
AIM-quoted Prospex Energy plc is building a sizeable gas production and electricity generation investment portfolio focused on high impact, late stage onshore European opportunities. With a growing portfolio of interests and an expert management team with a proven track record of generating significant value in the sector, Prospex is well positioned to become a European focused energy player centred around natural gas, the transition fuel for a carbon free future.