APR Energy reports 170% revenue growth

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Sarah Ann McCay

20 May 2012

APR Energy has delivered strong first quarter results for 2012 with group revenues for the period totalling US$78 million, a 170% increase from Q1 2011 revenues of US$29 million.

The company has secured 284 MW of new contracts so far in 2012, with additional projects in Africa, Latin America and the Middle East. All these new contracts are expected to be operational in 2012.

The company was also successful in extending 196 MW of existing contracts in Africa, Latin America and the Caribbean.

APR has also more than doubled its fleet capacity in the past 12 months, with current total fleet capacity at 960 MW compared to 421MW at the end of Q1 2011.

The company attributed its fleet growth, in part, to its strategic partnerships with Pratt & Whitney and Caterpillar/Ring Power.

International growth saw APR's regional hubs in Panama and Dubai both become operational in the first quarter of the year, with its Malaysia operations set to open in the third quarter.

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