Shares in Pacific Energy Limited (ASX:PEA) have jumped after announcing the power infrastructure provider has secured its largest new contract win since acquiring Kalgoorlie Power Systems business.
The contract has been awarded by AngloGold Ashanti Australia and Independence Group NL (ASX:IGO) for their gold mine development, Tropicana Gold Project in Western Australia.
Pacific Energy will build, own and maintain a power station at the project, under a contract term of 15 years starting from May next year.
Shares in Pacific Energy were trading 9.09 per cent higher this morning at $0.48.
In the first half of the 2012 financial year Pacific Energy reported a net profit of $2.79 million.