Australia's QPM Energy jumps on power station operating deal

QPM Energy

09/12/2024 03:03

** QPM Energy  QPM.AX  gains as much as 7.6% to A$0.057,
highest since April 30
    ** Stock logs fifth consecutive session of gains
    ** Integrated energy business signs operating agreement with
Carbon Logica for Moranbah Power Station, which will be acquired
from Sustainable Energy Infrastructure
    ** QPM will have full operating and electricity dispatch
rights for Moranbah
    ** Sees increased electricity rev through dispatch of excess
electricity to the grid, others
    ** Will be able to acquire Moranbah by paying ~A$10.5 mln
($6.7 million) to Carbon Logica over four years after operating
agreement ends
    ** About 6.4 mln shares traded vs the 30-day avg of 4.4 mln

($1 = A$1.5642)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))