Pacific Energy Limited (ASX:PEA) is an ASX-listed energy supply business. The company owns and maintains a portfolio of approximately 272MW of gas and diesel fuelled electricity generation supplying power to Australia’s resource sector in Western Australia, Northern Territory and South Australia and 6MW of hydro generation located in Victoria.
The Company’s core business division, Kalgoorlie Power Systems (KPS) is one of the leading electricity suppliers to the Australian resource sector and delivers competitively advantaged solutions for “off-grid” electricity supply for installed capacity requirements of between 2 – 60MW. KPS achieves this by a committed and focused approach to:
- Industry leading power station design and reliable innovation
- New fuel efficiency and flexibility technology development
- Optimised life-cycle asset management
The success of KPS has been delivered through consistently delivering on-time and on-budget power generation infrastructure at the lowest cost and risk for its clients.
KPS clients are typically medium to large public companies and include Newmont, Iluka Resources, AngloGold Ashanti, Sandfire Resources and Regis Resources.
The Company's hydro business comprises two hydro-electricity power stations located in South East Victoria. The hydro power stations are located at the Cardina Reservoir and Blue Rock Dam.
Electricity generated by Pacific Energy’s Cardinia hydro power station is purchased by Energy Australia under long term contract. The power puchase agreement with Energy Australia for the Blue Rock operations is currently able to be terminated by either party with six months' notice.
The Blue Rock hydro power station is also a registered Small Aggregated Generator under the NEM rules and will be able to sell renewable electricity at NEM spot prices if the contract with Energy Australia is terminated.
Pacific Energy continues to chase expanding the company earnings base and shareholder returns through:
- Increasing our installed KPS generation capacity footprint in Australia
- Installing KPS fuel efficiency and flexibility technologies across the existing KPS footprint
- Stepping-out our business model into other resource endowed geographical locations globally
- Diversifying our energy supply business through acquisition and new project development