According to the company, the two new projects are in addition to the company’s recent announcement relating to Grupo Minero Aconcagua (GMA), a private Argentine company in advanced stages of negotiation to acquire rights to geothermal and wind energy projects in central and southern Argentina.
The company said that, the two projects now under option include the Valle Del Cura and the Tuzgle-Tocomar projects, both entering the pre-feasibility stage and hosting an estimated combined 300MW of power generation potential.
Fellows Energy has targeted a third project in Argentina which has been the subject of a feasibility study covering the first 30MW of an estimated 100MW of generating potential. The three projects combined would host an estimated 400MW of potential. The company is also working toward the completion of its acquisition of GMA.
George Young, CEO of Fellows Energy, said: “The signing of option agreements to acquire these two projects is a step forward in bringing value into the company and restructuring our asset base. Acquiring the rights to these two advanced-stage projects will assist us in building shareholder value and enable us to grow the company while we improve our balance sheet and capital structure.”
