United Energy Group plc
United Energy Group plc: United Energy Group Welcomes the Collaboration between the Republic of Serbia and RWE
United Energy Group Plc. / Miscellaneous 16.11.2009 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- United Energy Group Welcomes the Collaboration between the Republic of Serbia and RWE Haslemere, United Kingdom - November 16, 2009 - Dr. Rolf Haferkamp, CEO of United Energy Group plc, has welcomed the agreement signed today to seal the collaboration between the Republic of Serbia and the German utility RWE. 'Not long after we became the first private enterprise to enter the Serbian energy market with the power plant project at Loznica, the potential of the market is now underlined by the agreement signed into effect between RWE and the Republic of Serbia. It bears out UEG's strategy to commit itself in this region. The undertakings of UEG and RWE will help in a major way to bolster the security of the energy supply in Serbia.' The agreement between RWE, the Serbian utility JP Elektroprivreda Srbije (EPS), and the Serbian Government was signed today by Serbian President Tadic at the seat of German Chancellor Angela Merkel, with the German Minister of Economy, Rainer Brüderle, in attendance. Subject of the agreement is the construction of hydroelectric power plants with an overall capacity of up to 3,000 Megawatt. RWE will explore three possible locations on the rivers Danube, Morava and Drina. The proposed site on the Drina lies on the territory of Bosnia-Herzegovina in the political-territorial division constituting the Republic of Srpska, but is supported by the latter as the project is of cross-border significance for the power supply of the entire region. The idea is to use modern pump-storage and running-water hydroelectric technology to develop the region's significant hydropower potential and to secure an energy supply from CO2-free production for its population. Just weeks ago, United Energy Group had announced its intention to realise and operate a gas power plant in the Serbian border town of Loznica together with its strategic partner DECOTRA Engineering d.o.o. (DECOTRA). A total output of about 260 Megawatt is to be installed in several development and expansion stages. In addition to the production of electricity, the power plant will deliver process steam to the district heating network of town and region and to local industrial plants. United Energy Group plc United Energy Group plc is an independent listed energy company. Formed in 2006, the company focused initially on the area of energy production. During the past two years, UEG underwent substantial redevelopment, and operates now in the business areas of Energy Consulting, Energy Trading, and Energy Investments. The company has thereby responded to global market trends as it seeks to make a significant contribution to the energy supply sector, and to help meet the growing energy needs worldwide. Forward-Looking Statements This communication may contain certain forward-looking statements that include declarations of intent, strategies and opinions relating to the future and to the expectations of United Energy Group and its subsidiaries. Any statement contained herein is based on information available on the respective day to the management of UEG; and actual events may vary depending on the occurrence of future events that may or may not be subject to the management's control, including risks and uncertainty factors that may cause the actual outcome to deviate considerably. Such risks and factors include, without being limited to, ramifications that acquisitions may have for the company and its capital structure, exploratory findings, market conditions, the stability of mineral oil and natural gas prices, the uncertainty factors inherent in the operative business of mineral oil and natural gas production, unexpected future investment requirements, competition, statutory provisions, and other factors. Business Network Marketing- und Verlagsgesellschaft mbH Corinna Kaspar Fasanenstr. 47, D-10719 Berlin Tel.: +49 (0)30 - 81 46 46 00 Fax: +49 (0)30 - 81 46 46 046 E-mail: ir@unitedenergy.com 16.11.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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