Prospex Energy (PXEN) has confirmed that electricity generation and sales have restarted at its El Romeral gas to power plant in Andalucía, Spain. The project is held via its 100%-owned subsidiary Tarba Energía.
The restart follows the delivery and installation of a rental transformer in late January. After completing testing and recommissioning, regular electricity production has now resumed.
The rental transformer will remain in place until a new electricity transformer is delivered. The new unit was ordered from a Spanish supplier last November, and Tarba is in ongoing dialogue with the supplier as progress continues on the build.
Prospex Energy’s Chief Executive Officer Tom Reynolds said: “The restart of production at Romeral is a welcome result which now allows Tarba to continue to generate revenue from electricity sales. Tarba will continue to optimise production, taking account of prevailing conditions in the Spanish electricity market to maximise revenue.
“Since joining the Company on 1 February 2026 I have focused on meeting the team, our partners and prospective partners with the objective of understanding how value can be developed from each of our assets. A key catalyst for Romeral is the ongoing permitting process for the planned well programme and meeting the relevant teams within the regulators is a priority. I look forward to keeping shareholders up to date on the permitting process and our broader strategy in due course.”
View from Vox
The restart at El Romeral removes a short-term operational overhang and restores cash flow from electricity sales. While attention now turns to the delivery of the permanent transformer, the bigger near-term catalyst is permitting for the planned well programme, which could underpin longer-term production growth at the asset.