Argentina extends fixed and standby contracts with Aggreko

Power generation equipment supplier Aggreko confirmed on Monday that the Government of Argentina extended its fixed site contracts, equivalent to 174MW, until 31 December 2017.

The FTSE 250 company confirmed the original contracts amounted to 180MW, and initially had various expiry dates.

Aggreko also confirmed that 56MW of the 270MW standby contracts was off-hired in 2016, leaving the balance at 214MW.

“These remaining contracts have now all been extended until the end of February or March 2017,” the company’s board said.

It said 64MW of standby capacity, originally due to expire in December 2016, was now extended until the end of February.

Additionally, 50MW of standby capacity initially due in December and 100MW due in March had both been extended until the end of March.

“All of the extensions have been priced in-line with our expectations,” the board added.