GCIProspex Energy: VSA Capital
(PXEN )
(PXEN ) has announced a ten year extension of the licence concessions for its Spanish El Romeral project where the company produces natural gas and converts it to electricity. The extension was for the maximum allowable ten years to 2034 and can be extended to 2044. We note the Spanish Government’s quote highlighting the benefits of the extension and its securing electricity supply to the grid for the long-term. This follows the declaration in 2023 of the plant as a Public Utility. Development of a solar strategy supplements power generation from natural gas.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.