VPower Group (SEHK: 1608), one of Southeast Asia’s largest gas-fired engine-based Distributed Power Generation (DPG) owner and operator, has signed a non-binding Letter of Intent (“LOI”) with F.K. Generators and Equipment Ltd (“F.K.”) for the co-development in F.K.’s 80 MW installed capacity HFO-Fired Distributed Power Generation project in Iquitos, Peru on 12th December. Under the terms of the LOI, upon a satisfactory due diligence, VPower Group shall invest by way of convertible security initially with a view to converting into a substantial share in a project company after Project’s commercial operation date, targeted in 2H 2017.

The Project, to run

VPower Group (SEHK: 1608), one of Southeast Asia’s largest gas-fired engine-based Distributed Power Generation (DPG) owner and operator, was awarded an extension to its Kyauk Phyu DPG station phase I (“KP-I”), to make the same power generation capacity available all the way to 2021.

The 5-year renewal took effect immediately after the original contract has ended, and KP-I continues to supply power from the strategically located Rankine state of Myanmar. The renewal is signed with financial terms similar to the original agreement. KP-I first went online in Q1 2015, built within 4 months after its contract signed. The total installed