Prospex Energy PLC shares were on the front foot on Monday, after it announced electricity generation and sales had restarted at its El Romeral gas-to-power plant in Andalucía, Spain, after its wholly owned subsidiary Tarba Energía installed a rental transformer and completed a recommissioning programme.
The AIM-listed company said the rental transformer was delivered and installed in late January, allowing Tarba to run a series of tests before resuming regular electricity production. Prospex had previously flagged the situation in a statement on 22 January. The rental unit will remain in place until a new electricity transformer is delivered.
Chief executive Tom Reynolds said the restart enables Tarba to resume generating revenue from electricity sales, adding that the group will continue to optimise production in line with conditions in the Spanish power market.
In London, the share was up 4% to 3,07p, having seen 3.4p in opening exchanges.