APR Energy Extends Gas Generation Contract in Brazil
APR Energy Ltd., a subsidiary of Atlas Corp. (NYSE: ATCO), has extended its gas generation contract in Brazil from 12 months to 44 months, boosting capacity to 226 MW. This move highlights APR Energy's commitment to delivering long-term energy solutions and reflects customer confidence in its operational excellence. The extension aims to secure predictable cash flow and enhance turbine utilization. APR Energy has successfully undertaken projects in 35 markets globally and is expanding its footprint with this being its inaugural project in Brazil.
- Contract extension from 12 months to 44 months increases capacity to 226 MW.
- Demonstrates customer confidence in APR Energy's operational capabilities.
- Secures longer-term and predictable cash flow for the company.
- Enhances turbine utilization by optimizing resources.
- None.
LONDON, UK, April 13, 2022 /PRNewswire/ - APR Energy Ltd. ("APR Energy"), a wholly-owned subsidiary of Atlas Corp. ("Atlas") (NYSE: ATCO), announced today that it has extended its previously announced 12-month gas generation contract in Brazil to a 226 MW 44-month contract. The extension furthers APR Energy's growth strategy of providing longer-term energy capacity solutions.
"Extending this contract demonstrates our customer's confidence in APR Energy's consistent operational excellence. APR Energy is developing a track record of meeting the growing demand for deploying proven and highly reliable gas turbines on long-term contracts. By extending this contract, APR is securing longer-term, predictable cash flow and optimizing its turbine utilization," said Ben Church, CEO, APR Energy.
APR Energy has deployed short- and long-term power projects in 35 markets around the world over the past 15 years. This is APR Energy's first project in Brazil.
About APR Energy
APR Energy provides rapidly deployable power and long-term generation solutions to governments, utilities, and industries around the world. For more information visit aprenergy.com.
About Atlas
Atlas is a leading global asset management company, differentiated by its position as a best-in-class owner and operator with a focus on disciplined capital deployment to create sustainable shareholder value. We target long-term, risk-adjusted returns across high-quality infrastructure assets in the maritime sector, energy sector and other infrastructure verticals. For more information visit atlascorporation.com
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SOURCE Atlas Corp.
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