Twenty20 Energy Successfully Completes First Annual Maintenance on the Dirio Power Station in Papua New Guinea

SINGAPORE, May 4, 2023 /PRNewswire/ -- Twenty20 Energy ("Twenty20" or "the Company"), an integrated international energy provider enabling decarbonization and energy transition solutions through innovative technologies, announced today the completion of the first annual maintenance outage at the Dirio Power Station, where Twenty20 Energy is providing the full scope of plant operation and maintenance services.

Twenty20 Energy provided complete turnkey engineering, procurement and construction for the Dirio Central Province Power Station, which initially started delivering power in December 2021 to the Port Moresby capital area, in Papua New Guinea. Twenty20 Energy now operates and maintains the facility on behalf of Dirio Gas & Power as part of a 20-year service-level agreement.

Greg Bahora, Chief Operating Officer of Twenty20 Energy, commented, "We are pleased to have safely and efficiently completed scheduled maintenance of the entire plant after its first full year of operation. While we planned for a full plant outage of 36 hours, we completed all programmed works, testing and inspections in 12 hours through utilizing additional resources and completing detailed planning and preparations in advance."

The Dirio Central Province Power Station comprises three Solar Turbines Titan 130 Modular Power Plant Sets in Open Cycle configuration, each with a rated capacity of 15MW reaching 45MW in total. The modular plant design allows for further expansion at a later date, with the ability to add 12MW of generation capacity in the Combined Cycle configuration.

"The majority of the maintenance operation," continued Mr. Bahora, "was executed as planned on a unit-by-unit basis, allowing two units to be fully operational in support of the needs of the national grid. Over the first year of operations, the Twenty20 Energy team maintained exceptional availability for each unit, with 99.86% for Unit 1, 99.87% for Unit 2, and 99.74% for Unit 3, well above the 95% threshold, amounting to a total of 393,490,968 kWH's of available, dispatchable hours. This outcome is a reflection of the Company's ongoing effective management, operational efficiency, and the passion and dedication of the team."

Papua New Guinea (PNG) government officials have set a goal of 70 percent electrification for all of PNG through a series of innovative solutions by 2030, an objective which Twenty20 Energy will work toward as a collaborative partner.

Geoff Lawrence, Chief Executive Officer of Twenty20 Energy, added, "Twenty20 Energy will continue to work with the PNG leadership to engineer, construct and manage projects that will deliver improvements in power generation capacity and electrification with a focus on economic viability and respect for the environmental impact," continued Mr. Lawrence. "We can deliver a broad range of highly efficient, environmentally sensitive power generation solutions which may include natural gas, wind, geothermal, solar, or co-generation applications of any scale, as appropriate for the client and location."

About Twenty20 Energy
Twenty20 Energy delivers innovative energy solutions that enable clients, partners, and stakeholders to accelerate the transition to a cleaner energy future. From concept development to operations and maintenance, Twenty20 Energy provides engineering, project execution and asset management through long term operations and management solutions, coupled with the capacity to provide funding or participate in shared project ownership. Uniquely positioned in the energy landscape, Twenty20 Energy has a global reach with local sensitivity, developing projects that deliver cleaner energy while empowering economic growth for today and beyond.

Forward-Looking Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will", "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

Contact:

Joe Diaz
Lytham Partners, LLC
(602) 889-9700
[email protected]

SOURCE Twenty20 Energy