By Philip Whiterow From Proactive Investors

InterEnergy recently acquired two other wind power projects in Chile developed by Rame, Raki and Huajache

Rame Energy PLC sells two more projects to Cayman group

Rame has 300Mw on projects in the pipeline and Chile is very short of power.
Wind power specialist Rame Energy (LON:RAME) has sold two more development projects in Chile to Cayman Islands–based utility group InterEnergy.

A contract for the sales of the 9Mw Punta Chome and 6Mw Raki Sur has already been signed with milestone payments up to at least £2.03mln.

The final payment becomes due when Punta Chome and Raki Sur reach “ready to build” status and construction begins. A previous agreement to sell Punta Chome to EREN Développement, another power asset investor, has been cancelled.

InterEnergy recently acquired two other wind power projects in Chile developed by Rame, Raki and Huajache, and the companies have agreed terms for a service contract going forward.

Rame will also help develop InterEnergy’s Chilean LNG ( liquid gas) distribution business.

Tim Adams, Rame’s chief executive, said he was delighted to be working more closely with InterEnergy.

“Having designed, built and sold the Raki and Huajache projects, we are ideally placed to operate and maintain them on behalf of InterEnergy.

“Their on-going interest in our high quality pipeline in terms of Punta Chome and the Raki Sur extension allows us to progressively monetise these projects as part of the further development of our overall pipeline of more than 300Mw’s in Chile.”

For more on this story go to: http://www.proactiveinvestors.co.uk/companies/news/123609/rame-energy-plc-sells-two-more-projects-to-cayman-group-123609.html