BUENOS AIRES, Oct. 19 /PRNewswire-FirstCall/ -- Pampa Energia S.A. (NYSE: PAM; BASE: PAMP) ("Pampa") announces that its subsidiary Central Termica Loma de La Lata ("CTLLL") entered into an agreement with Cammesa (Argentina's Electricity Market Administration Company) to sell part of the net capacity resulting from the expansion project at CTLLL and to sell the corresponding electricity generated that is required by Cammesa (the "Agreement"). CTLLL is expanding its existing natural gas-fired plant by converting it into a combined-cycle with a new steam turbine and generator, adding approximately 178 MW of new gross generation capacity (the "Project").
The Agreement covers a minimum of 50% of the Project's new net capacity, with the final percentage to be determined at the time the Project starts commercial operation (expected for the second half of 2010) and will depend on the amount of credits, CTLLL's or from third parties, arising from Resolution 406/2003 from the Secretariat of Energy of Argentina, that are allocated to the Project.
The Agreement sets a capacity payment of US$ 33,383 per MW-month and an energy payment of US$ 4 per MWh. The term of the Agreement is 10 years from the date the Project starts commercial operation.
For further information, contact:
Ricardo Torres - Chief Executive Officer
Mariano Batistella - Investor Relations
3302 Ortiz de Ocampo, Building #4
(C1425DSR) Ciudad Autonoma de Buenos Aires, Argentina
Phone: 5411 4809 9500
http://www.pampaenergia.com/ri DATASOURCE: Pampa Energia S.A.
CONTACT: Ricardo Torres, Chief Executive Officer, or Mariano Batistella, Investor Relations, +011-54-11-4809-9500, , both of Pampa Energia Web site: http://www.pampaenergia.com/ri
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