United Energy Group plc
United Energy Group plc: United Energy Group Realises Serbia’s First Free-Market Power Plant Project in Loznica
United Energy Group Plc. / Miscellaneous 14.10.2009 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 Realises Serbia's First Free-Market Power Plant Project in Loznica Haslemere, United Kingdom - October 14, 2009 - In the wake of a successfully completed feasibility study, UEG identified its first power plant project in the Serbian town of Loznica. Together with its strategic partner DECOTRA Engineering d.o.o. (DECOTRA), the company will operate a gas power plant. This makes the two companies the first private power plant operators in Serbia. 'Just weeks after the cooperation agreement with DECOTRA we can now celebrate our first major success. This demonstrates the sustainability of our strategy on the Balkans, the high potential of this market, and the hand-in-glove nature of our cooperation with DECOTRA,' commented Dr. Rolf Haferkamp, CEO of United Energy Group plc. 'Strategically speaking, the location of Loznica is particularly valuable toward this end because the power plant lies directly on the border between Serbia and Bosnia-Herzegovina. This will provide us with ac-cess both to the domestic Serbian market and to the important regional market on the Bal-kans.' On the basis of several development and expansion stages, we will install a total output of about 260 MW. In addition to the production of electricity, the power plant will supply district heating network to town and region and deliver process steam to local industrial plants. Among its distinguishing features is a very low carbon dioxide emission, causing it to make an essential contribution to climate protection along the lines of the ongoing global climate debate. During the weeks to come, the plant technology and the dimensioning of the power plant will be finalised before getting the corresponding tender process underway. At the same time, the permits already obtained will be adjusted to the final design of the plant, and the pre-negotiated contracts with the city of Loznica and with the industrial clients will be signed into effect. With the weather permitting, initial work on the foundation will be also started. The actual start of the power plant's construction is scheduled for May 1, 2010. 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. Assertions Regarding the Future This corporate news may contain certain assertions regarding the future that include statements, declarations of intent, strategies and opinions relating to the future and to the expectations of United Energy Group and its subsidiaries. Any assertion 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 events 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 10719 Berlin, Germany Tel.: +49 (0)30 - 81 46 46 00 Fax: +49 (0)30 - 81 46 46 0 - 46 E-mail: ir@unitedenergy.com 14.10.2009 financial News transmitted by DGAP ---------------------------------------------------------------------------
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