Moranbah Power Station Transaction Complete

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Stock Queensland Pacific Metals Ltd (QPM.ASX)
Release Time 2 Jan 2025, 8:26 a.m.
Price Sensitive Yes
 Moranbah Power Station Transaction Complete
Key Points
  • QPM Energy Limited has completed the transaction to acquire the 12.8MW Moranbah Power Station
  • QPM now has full operating and electricity dispatch rights for the power station
  • The acquisition will deliver increased revenue and lower operating costs for QPM
Full Summary

QPM Energy Limited (ASX:QPM) ('QPM' or 'the Company') previously announced that it had entered into an operating agreement with Carbon Logica Pty Ltd in relation to the 12.8MW Moranbah Power Station ('MPS'). The agreement would provide QPM with full operating and electricity dispatch rights for MPS, including the capacity to purchase electricity directly from the grid, as well as the option to acquire the MPS at the conclusion of the operating agreement. QPM is delighted to announce that all conditions relating to the transaction have been met and it is now complete. QPM is now able to utilise the MPS to generate and/or purchase electricity to sell directly into the grid or for use to power its operations at the Moranbah Gas Project. This will deliver increased revenue and lower operating costs for the company.