Pampa Energia Updates Information on Technical Problems in the Steam Turbine at Loma de La Lata Power Plant
BUENOS AIRES, Argentina, March 2, 2011 /PRNewswire/ — Pampa Energia S.A. (NYSE: PAM; Buenos Aires Stock Exchange: PAMP) (“Pampa” or the “Company”) informs in relation to Central Termica Loma de la Lata (“CTLL”) that Isolux Corsan Argentina S.A. and Tecna Estudios y Proyectos de Ingenieria S.A. – Union Transitoria de Empresas (the “UTE”) has informed us that the corrections to the technical problems detected in the Steam Turbine unit, which composes part of CTLL’s installed capacity expansion project, will require more time than the Company previously informed on February 18 of this year.
In spite of the fact that the Company is seeking more accuracy with respect to the timeline set forth by the UTE and that we will do our best efforts to reduce the time necessary to correct the technical problems, it is now estimated that the commercial operations date could take place within the next 120 days, approximately. The Company has begun to take the steps necessary to collect both the anticipated contractual compensations stipulated therein, as well as the corresponding compensations from the insurance companies.
Pampa Energia is the largest integrated electricity company in Argentina that, through its subsidiaries, participates in the generation, transmission and distribution of electricity.
For further information, contact: Ricardo Torres - Chief Executive Officer Mariano Batistella - Strategic Planning and Investor Relations 3302 Ortiz de Ocampo, Building #4 (C1425DSR) Ciudad Autonoma de Buenos Aires, Argentina Phone: 5411 4809 9500 http://www.pampaenergia.com/ir ------------------------------ email@example.com
SOURCE Pampa Energia S.A.